Austria is the latest country to step up and contribute to support developing and least-developed countries (LDCs) and thier participation in global trade efforts. A total of 400,000 EUR was donated last week to assist in financing trade workshops with an overall vision of successful implementation of WTO agreements, according to a release from WTO.
“I firmly believe that the multilateral trading system, particularly the World Trade Organization, plays an essential role in boosting international trade and helping improve the livelihoods of millions of people in both developed and developing economies. Through our contribution to the Trust Fund, we aim to help developing economies integrate into world trade and contribute more actively to the world economy,” Austria’s Federal Minister for Digital and Economic Affairs, Margarete Schramböck, said.
This donation is one of many over the last 15 years from the country of Austria, totaling $15 million EUR towards funds for the WTO. As more developing countries are educated and supported in trade education initiatives, global trade efforts will present more opportunities for industry players.
“I want to thank Austria for supporting WTO trade-related programmes aimed at enhancing the capacity of developing countries and LDCs to trade and to fully participate in multilateral trade negotiations. Austria’s generous donations are very welcome,” said Director-General Roberto Azevêdo.