Korea gives WTO $350,000 to offer technical aid for developing nations

Korea has donated $350,000 to the Doha Development Agenda Global Trust Fund (DDAGTF) run by the World Trade Organisation (WTO).

Announcing the donation August 30, 2012, the Geneva-based organization said the money is expected to be used to finance technical assistance programmes and training activities for developing and least developed countries as well as economies in transition.

It will also enhance the countries’ ability to participate effectively in WTO negotiations and ensure they fully benefit from the results achieved during these negotiations.

“I welcome this new donation which demonstrates Korea’s commitment to help developing countries fully benefit from the multilateral trading system and better integrate in the global economy”, WTO Director General Pascal Lamy said in a statement.

Korean Ambassador to the WTO Sang-ki Park stated “Korea will continue to assist poorer countries in strengthening their trading capacity and finding new market opportunities, as trade is an essential tool for development, economic growth and poverty reduction. In these difficult times, expanding their participation in the global marketplace is key.”

This donation brings Korea’s total contribution to WTO trust funds to CHF 3.6 million since 2002.

By Ekow Quandzie