The Eleventh World Trade Organization (WTO) Ministerial Conference (MC11) took place in Buenos Aires, Argentina. The Conference was chaired by Minister Susana Malcorra of Argentina. Indian Delegation was led by Minister of Commerce and Industry Suresh Prabhu.
Key Highlights of the conference-
1. Three proponent groups announced new initiatives to advance talks at the WTO on the issues of electronic commerce, investment facilitation, and micro, small and medium-sized enterprises (MSMEs).
2. The European Union contributed EUR 1 million (over CHF 1.2 million) to improve the trading capacity of developing countries and to help them play a more active role in trade negotiations.
3. The United Kingdom government announced at the WTO’s Ministerial Conference with a commitment of £16 million (around US$ 21.3 million) to 51 of the world’s poorest countries.
4. For the first time in the history of the WTO members and observers have endorsed a collective initiative to increase the participation of women in trade.
Static/Current Takeaways Important for RBI Assistant Mains 2017 Exam-
- The last Ministerial Conference took place in Nairobi, Kenya, in December 2015.
Source- The Hindu