Yoo Myung-hee "Will Propose Initiative to Open Up Environmental Sector"

[Image source=Yonhap News]

[Sejong=Asia Economy Reporter Kwon Haeyoung] Yoo Myung-hee, Chief Negotiator of the Ministry of Trade, Industry and Energy, stated on the 29th, "We plan to propose a trade and environment initiative that includes measures to promote market opening for environmental goods and services through the reduction of tariff and non-tariff barriers."

Chief Negotiator Yoo attended an informal World Trade Organization (WTO) trade ministers' meeting held via video conference on the same day and said, "As the need for global solidarity and cooperation is emphasized, new trade issues such as environment and health are rapidly emerging." She also stressed that the WTO should contribute to the smooth supply of medical goods based on the currently discussed trade and health initiative.

At the meeting, discussions were held on ▲ ways to achieve outcomes at the 12th WTO Ministerial Conference ▲ major ongoing WTO issues such as fisheries subsidies negotiations ▲ new trade issues including trade and environment and health.

Regarding the 12th WTO Ministerial Conference scheduled for this year, Chief Negotiator Yoo said, "It is a turning point that can present the status, role, and direction of the WTO externally," and mentioned that an agreement on the timing and format of the meeting must be reached as soon as possible.

She also urged member countries to make efforts and pay attention for the prompt conclusion of the fisheries subsidies negotiations, the only multilateral negotiation currently underway at the WTO, stating, "Multilateral negotiations such as e-commerce negotiations must achieve visible results by the 12th WTO Ministerial Conference."

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