The government of Germany is contributing EUR 500,000 (approximately CHF 480,000) to help developing and least-developed economies (LCDs) take a more active part in global trade negotiations.
Germany's Alternate Permanent Representative to the WTO, Bettina Waldmann, signed the Memorandum of Understanding on behalf of the German Government at the WTO on October 19.
Germany's contribution to the WTO's Global Trust Fund will finance training workshops for government officials to help them deepen their understanding of multilateral trade rules and strengthen their negotiating capacity.
Close to 2,800 workshops have been organized since the fund was created in 2001.
Director-General Ngozi Okonjo-Iweala said: “I thank Germany for generously supporting the WTO's efforts to enhance the trading capacities of developing economies and LDCs. This will help more people in these countries benefit from the opportunities presented by international trade.”
Ms Waldmann said: “Germany strongly believes in the valuable work of the Global Trust Fund. We thank everybody who helps to spread the idea of international trade rules and we hope for many to benefit from our
contribution.”
Overall, Germany has contributed approximately CHF 26.6 million to the Global Trust Fund over nearly 25 years.