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International trade

UK Contributes £750,000 to WTO Global Trust Fund for 2025

Strategic Insights

— 1 min read

The UK has donated £750,000 to the World Trade Organization's (WTO) Global Trust Fund for 2025, prioritizing training activities in services, particularly for developing economies and least developed countries (LDCs). This contribution will enable these countries to strengthen their expertise in WTO issues, enhancing their participation in trade negotiations and rule implementation. The UK's Ambassador to the WTO, Simon Manley, emphasized the importance of services trade in fostering job creation and economic development.

Key Takeaways:

  • The UK's £750,000 contribution to the WTO Global Trust Fund for 2025 will focus on training activities in services for developing economies and LDCs.
  • The UK's Ambassador to the WTO, Simon Manley, highlighted the significance of services trade in enabling developing countries to integrate into the multilateral trading system.
  • The Trade in Services for Development initiative, jointly developed by the WTO and the World Bank, aims to help developing economies and LDCs benefit from services trade opportunities.
  • WTO Director-General Ngozi Okonjo-Iweala expressed gratitude to the UK for supporting the WTO's efforts to boost trading and negotiating capacities of developing economies and LDCs.
  • The UK has contributed over CHF 14 million to various WTO trust funds over more than 20 years.
  • The Global Trust Fund has covered on average 50 percent of the costs allocated to trade-related training activities for developing economies over the past 10 years.

Statistics:

  • £750,000: The UK's contribution to the WTO Global Trust Fund for 2025.
  • 50 percent: The average proportion of costs covered by the Global Trust Fund for trade-related training activities for developing economies over the past 10 years.
  • CHF 14 million: The total value of the UK's contributions to WTO trust funds over more than 20 years.
  • £13 million: The equivalent value of the UK's contributions to WTO trust funds in GBP.
  • 20 years: The duration of the UK's contributions to WTO trust funds.
  • 10 years: The period over which the Global Trust Fund has covered 50 percent of the costs allocated to trade-related training activities for developing economies.

Sources:

  • WTO Global Trust Fund contribution.
  • UK Ambassador to the WTO, Simon Manley.
  • WTO Director-General Ngozi Okonjo-Iweala.
  • Trade in Services for Development initiative.
  • World Bank.
  • UK contributions to WTO trust funds.
  • WTO publications.

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