Geneva, 7 January 2025
Today, EU Commissioner for Trade and Economic Security Maroš Šefčovič will travel to Geneva to meet with key stakeholders of the World Trade Organization (WTO) and reaffirm the European Union’s support for the multilateral trading system and the organization’s essential role in global trade.
During the visit, Commissioner Šefčovič will meet with WTO Director-General Dr Ngozi Okonio-Iweala to convey European support for his efforts to adapt the WTO to the changing challenges of the contemporary political and economic landscape. This high-level engagement reinforces the EU’s vision of a reformed WTO that remains the cornerstone of global trade governance and brings concrete benefits to economies around the world. The visit comes at a crucial time for global trade, as the WTO faces several challenges, including in the area of dispute settlement, tackling overcapacity and implementing other key reforms.
Commissioner Šefčovič said that “the EU remains the global champion of rules-based international cooperation. That is why we are committed to the proper functioning and revitalization of the World Trade Organization. For the WTO to remain the most relevant forum for the global trading system, it must address all the issues we face in the current trading system, for the benefit of all. »
And like businesses, trade thrives on predictability and fair rules. The Commission remains committed to fostering international cooperation and addressing the pressing challenges of global trade. Trade accounts for almost a quarter of the EU’s GDP and ensuring a predictable and open trading environment is fundamental to the EU’s competitiveness.
Source – EU Commission