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Update on 13th World Trade Organisation Ministerial Conference

05 March 2024

Proposing MP
Kemi Badenoch Con
North West Essex
Type
Written Ministerial Statement
Department
Department for Business and Trade
View on Parliament.uk -->

At a Glance

Issue Summary

The minister provided an update on the outcomes of the World Trade Organisation's 13th Ministerial Conference (MC13) in Abu Dhabi.

Action Requested

No specific action is requested; rather, the minister highlighted completed actions such as the entry into force of new service regulations and the completion of the Investment Facilitation for Development Agreement.

Key Facts

  • MC13 was held in Abu Dhabi.
  • Two new Members joined the WTO: Comoros and Timor-Leste.
  • The Services Domestic Regulation Joint Initiative could lead to global savings of £99 billion.
  • The UK completed the Investment Facilitation for Development Agreement, which commits 127 signatories to practical steps to facilitate investment in developing countries.
  • The Agreement could increase outward UK FDI by £2.5 billion in participating Members.
  • There are now 166 WTO Members.
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