More than 50 trade ministers at the World Trade Organization ministerial meeting in Geneva on Sunday issued a supporting statement for embattled Ukraine and its ability to trade, underlining the importance of maintaining open and predictable markets.
The ministers issued the statement on the opening day in Geneva of the first meeting of trade ministers in five years, an event that was postponed several times from June 2020 due to the COVID-19 pandemic.
They expressed deep sadness “at the devastating human losses and profound suffering caused by the aggression against Ukraine,” supporting UN General Assembly resolutions that have condemned the war started by Russia on Feb. 24.
“The war is also having a devastating impact, including on Ukraine’s economy and ability to trade,” said the ministers, warning that the blockage of access to the Black Sea is seriously jeopardizing food supplies to some of the most vulnerable parts of the world.
“The destruction of a significant part of Ukraine’s transportation infrastructure, including roads, bridges, ports, and railroads, is substantially impeding Ukraine’s ability to produce, export, and import,” they added.
They said they are gravely concerned about the consequences of this destruction for Ukraine and global trade, particularly for supplying international markets with several vital commodities produced by Ukraine.
Food products and fertilizers
These include agricultural and food products, fertilizers, sunflower oil, and critical minerals.
“We are also deeply concerned by numerous reports of grain being plundered from Ukraine,” said the ministers, referring to accusations against Russia.
They said such actions run counter to the principles and values of the WTO, which has 164 nations as members.
The nations which signed the statement include Albania, Australia, Canada, Chile, Colombia, Japan, South Korea, Mexico, Moldova, Singapore, Switzerland, the United Kingdom, Ukraine, and the United States, plus the European Union.
Taiwan also signed the statement.
After the meeting opened, Turkish Trade Minister Mehmet Mus, the WTO’s director-general, said that world’s post-COVID recovery is now being hindered by “geopolitical unrest.”
“In this respect, strengthening the rules-based, free, predictable, fair, and inclusive multilateral trading system, with the WTO at its center, is the only way to address the current challenges of the world economy,” he said./aa
