EU advances 10 million euro for developing countries

Business Reporter
THE European Union has advanced €2 million to the World Trade Organisation (WTO) aimed at increasing the participation of developing countries in trade negotiations.

The contribution will support the active participation of developing and least developed countries in the Doha round negotiations.

The Doha Development Agenda Global Trust Fund (DDAGTF) finances around 280 activities per year, mostly tailor-made training delivered at regional and national level, covering all trade related areas including facilitation, agriculture and services.

“With these welcome donations, the European Union has again demonstrated its longstanding commitment to helping developing and least developed countries reap the benefits of trade and better integrate into the global economy,” WTO director general Roberto Azvevedo said in a statement.

EU ambassador to the WTO, Angelos Pangratis, said EU and its member states remain the leading donors of trade related technical assistance.

“In total, the European Union has donated €10,6 million to DDAGTF since 2013.

“Trade rules can play an important role in supporting development when appropriately adapted to the needs and priorities of a country.

“The initiatives financed under the DDAGTF are key for the further integration of developing countries into the global trading system,” said Pangratis.