8
Feb
2024
Watch
Multilateral negotiations in view of the 13th WTO Ministerial Conference in Abu Dhabi, 26-29 February 2024 (debate)
Mr President, ladies and gentlemen. The clear commitment of the European Parliament to a future-proof WTO is a very important signal, as multilateral cooperation is more important than ever at a time when autocracies are attacking democracies – with weapons, with disinformation or with economic dependencies. Multilateralism is harder than ever. The World Trade Organization has always been at the heart of our global economic cooperation. But we are experiencing great geopolitical pressure, coupled with protectionism and trade wars, and we would have to work out the solution in the WTO. But the system itself is getting old. If China continues to claim developing country status, if the U.S. continues to paralyze dispute resolution because it doesn't name judges, then it's really obvious: The WTO no longer works. But our European response must not be single-handedness or protectionism. Our response must always be to continue to fight for reform. And the last ministerial conference gave us hope. There is an opportunity now to launch a package, a package for a genuine reform of the WTO, which brings a solution to resolving trade conflicts. We need more flexibility for plurilateral agreements and, above all, a permanent solution for modern E-commerce-Rules, because digital commerce already accounts for 25% of all commerce today. The WTO must arrive in the 21st century, and I expect the Commission to fight with all its heart for the future of multilateral trade.