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Korea Contributes CHF 260,000 to enhance developing countries’ trading skills

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The Republic of Korea is donating KRW 339 million (approximately CHF 260,000) to help developing and least-developed countries (LDCs) participate effectively in global trade negotiations. This contribution to the WTO Global Trust Fund will finance training for government officials, academia and research institutions to help them deepen their understanding of multilateral trade rules.

The Republic of Korea’s donation will finance WTO-related courses, seminars and training workshops to improve negotiating skills of government officials in developing countries and enhance their understanding of WTO agreements.

Part of the contribution — KRW 60 million (around CHF 46,000) — will be allocated to the WTO Chairs Programme, which aims to support and promote trade-related academic activities by universities and research institutions.

WTO Director-General Ngozi Okonjo-Iweala welcomed the donation: “As a member with a long record of strong advocacy for the multilateral trading system, the Republic of Korea remains very active in ensuring that benefits of trade can be enjoyed by all. Thanks to this donation, WTO developing and LDC members will be able to participate more effectively in the work of the organization, taking advantage of the opportunities international trade offers.”

Ambassador Taeho Lee of the Republic of Korea said: “Korea has long supported efforts to better integrate developing countries, especially the least developed among them, into the multilateral trading system. Our annual contribution to the Global Trust Fund is an important manifestation of this longstanding commitment. We are particularly pleased to start contributing to the WTO Chairs Programme this year. The Chairs Programme will help cultivate the ability of academic institutions in developing and least developed countries to provide expertise relating to the multilateral trading system to the governments of those countries.”

Overall, the Republic of Korea has donated around CHF 6.2 million to WTO trust funds.

SMEStreet Edit Desk

SMEStreet Edit Desk is a small group of excited and motivated journalists and editors who are committed to building MSME ecosystem through valuable information and knowledge spread.

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