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Alexey Ulyukaev: WTO Must Retain the Possibility of Adaptation in order to React to a Plenty of Challenges in the Global Economy

17.11.15

On November 17, 2015 in Manila (the Philippines) during a joint meeting of APEC Ministers of Foreign Affairs and Ministers of Trade Minister of Economic Development of the Russian Federation Alexey Ulyukaev took part in a special session of Ministers of Trade dedicated to the support of multilateral trading system and preparing for the 10th WTO Ministerial Conference.

Alexey Ulyukaev emphasized the importance of WTO negotiating function and WTO itself as a main platform for multilateral trade negotiations. “WTO must retain the possibility of adaptation in order to react to a plenty of modern challenges in the global economy,” he noted. According to his words, the forthcoming December conference in Nairobi is the best possibility to show the importance of WTO. “A certain package of agreements may have been presented by December,” he explained. “Now we are elaborating the details of these agreements.”

Besides, in Minister’s opinion, the discussion of multilateral trade actual problems should be continued after December.

The Head of Russian Ministry of Economic Development mentioned a widespread process of regional integration that recently has been given an obvious momentum. “This process must not lead to imbalance of global trade system; it must strengthen this system. We shall continue our work on achieving transparency and openness in the regional trade relations,” Alexey Ulyukaev informed.

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