South Korea: "Ottawa Group Must Lead WTO Reform"

Kim Jong-il, Director of the New Trade Order Strategy Office at the Ministry of Industry, Attends WTO Deputy Ministerial Meeting

[Sejong=Asia Economy Reporter Kwon Haeyoung] South Korea emphasized that small groups like the Ottawa Group should play a leading role in the successful reform of the World Trade Organization (WTO), which is facing difficulties due to protectionism and COVID-19.

Kim Jeong-il, Director of the New Trade Order Strategy Office at the Ministry of Trade, Industry and Energy, stressed this point during a virtual Ottawa Group deputy ministerial meeting held on the 22nd.

At the meeting, Ottawa Group member countries discussed the key outcomes that could be achieved at the WTO Ministerial Conference (MC-12). They also exchanged views on expanding the Ottawa Group membership and future cooperation with the U.S. Biden administration within the WTO.

Director Kim identified overcoming COVID-19 as the WTO’s top priority. He said, "It is necessary to expand participation of WTO member countries so that the trade and health initiatives led by the Ottawa Group can contribute to the smooth movement of medical supplies and vaccines worldwide," and proposed, "Let us invite the newly appointed WTO Director-General Ngozi Okonjo-Iweala to the next Ottawa Group ministerial meeting to accelerate the momentum of these initiatives."

He also emphasized the need to modernize norms and transform the WTO into a relevant organization through its negotiating function at this year’s scheduled WTO Ministerial Conference. He added that progress is needed in WTO plurilateral negotiations such as the ongoing fisheries subsidies negotiations, e-commerce, and investment facilitation to demonstrate the WTO’s ability to create trade norms.

Kim also stressed the need for a more proactive role by the WTO. To this end, South Korea plans to submit an initiative including trade liberalization of environmental goods and services to the WTO Trade and Environment Sub-Committee (TESSD) scheduled for next month.

He stated, "Regarding climate change and sustainable growth, which have come to the fore with recent carbon neutrality declarations by major countries, the WTO, as one of the central institutions of global governance, must play a more active role," and requested the support of Ottawa Group member countries for South Korea’s initiative submission.

Meanwhile, participants at the meeting agreed on the necessity for the WTO to respond more actively to global common challenges such as environment and health. They also shared the view that the Ottawa Group should take the lead in closely cooperating around the agenda discussed at this meeting to achieve substantive outcomes at the upcoming 12th Ministerial Conference.

This content was produced with the assistance of AI translation services.