g7+ Ministerial Meeting ON THE MARGINS OF the 13th WTO Ministerial Conference MONDAY, 26 february 2024, 16h30 to 18h00 (GMT+4)

As we gather here today, I am honored to address in my capacity as the Chair of the group of seven plus or the g7+ as we call it. At the outset, I would like to extend our congratulations to the people and governments of Democratic Republic of Timor-Leste and Union of Comoros, two of our esteemed members for completing the accession process to the WTO. This is an important milestone that we believe will prove instrumental in economic development and stability.

Using this opportunity, I also would like to register our appreciation to the esteemed missions of Liberia and Timor-Leste for their role as the co-coordinators of the g7+ WTO accession group. We are equally aware and appreciative of the efforts of Afghanistan who led this group upon its establishment. The g7+ WTO accession group is an important forum that amplifies the voice of countries in transition to peace and stability in the multi-lateral trade system and policies.

Excellencies, ladies and gentlemen.

We have gathered in this forum on the premise of acknowledging the profound impact that conflict and fragility have on societies and economies. The scourge of conflict not only inflicts immeasurable human suffering but also undermines economic stability and stifles development prospects. Decades of wars and conflict leave behind vulnerable institutions and precarious socio-economic conditions. Despite their inherited potential for prosperity, they face obstacles in benefiting from the benefits of multilateral trade that could otherwise lift them out of poverty and the vicious circle of crises.

In this context, a fair and inclusive multilateral trade system emerges as a beacon of hope and a catalyst for positive change. By facilitating the exchange of goods, services, and ideas across borders, such a system empowers countries such as those in the g7+ to tap into global markets and unlock new opportunities for economic advancement. Trade becomes a pathway to prosperity, offering a lifeline for communities ravaged by conflict and fragility.

The principles of fairness and inclusivity lie at the heart of a robust multilateral trade system that we seek to promote on the forum of the g7+ WTO accession group. Fair trade practices ensure that all countries, irrespective of their size or level of development, have equal access to global markets and can compete on a level playing field. With the inherited potential that includes the natural resources and youthful population in conflict affected countries, these countries can contribute to the shared prosperity.

Crucially, the benefits of a fair and inclusive multilateral trade system extend far beyond economic realms. Trade can serve as a powerful instrument for pursuing peace and stability. It creates numerous opportunities for the youthful populations in these countries to harness their potential. It is a very well-known reality that by generating income, creating jobs, and enhancing livelihoods, trade can uplift communities and empower them to build resilient societies. It becomes a driver of social progress, offering a pathway out of poverty and despair.

However, it is essential to recognize that reaping the full benefits of multilateral trade requires concerted efforts from all stakeholders. Policymakers, international organizations, and the private sector must collaborate to address systemic barriers and inequalities that hinder the participation of conflict-affected and fragile countries in global trade. This includes investing in infrastructure, capacity-building, and institutional reforms to strengthen the trade readiness of these nations and ensure that they can fully benefit from the opportunities offered by the global economy.

It is in this context that the g7+ WTO accession group plays a vital role in amplifying the voice of countries that are in transition. This group provides a forum for the members to share experiences in the spirit of cooperation and solidarity; the 2 vital principles of the g7+.

In conclusion, I would like to emphasize on the power of our collective efforts to facilitate accession of countries to the WTO and our concerted advocacy for peace-centered multilateral trade system; a much needed aspiration in today’s era. Recognizing the increasing geoeconomic and geopolitical fragmentation among the world’s powerful nations, countries in the global south and in particular those represented in this very forum need to join forces to safeguard the wellbeing of nearly 1.5 billion people living in context of fragility. Given that solidarity and cooperation lie at the core of the g7+ group, we reiterate our commitment to facility sharing lessons that can inspire reforms.

I thank you for your attention.