WTO and Caribbean Development Bank Sign New Partnership Agreement
The World Trade Organization and the Caribbean Development Bank inked a Memorandum of Understanding to boost the "capacity, accessibility and availability of trade resources," to both organizations' members, the CDB announced. The MoU will aid in the implementation of the WTO's Trade Facilitation Agreement and its Agreement on Fisheries and Subsidies agreed to at the 12th Ministerial Conference, the bank said. The agreement will further speed along other initiatives to drop technical barriers to trade, "address Sanitary and Phytosanitary issues and create mechanisms for the agencies to partner to improve capacity building."
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"The MOU aims to deliver specific things for the benefit of countries in the region, virtually all of whom are members of the WTO," WTO Director-General Ngozi Okonjo-Iweala said. "So, for instance, as part of a food security package how can we work together to make sure that the Fisheries Subsidies Agreement is implemented. How do we collaborate on capacity building on fisheries management, how do we get countries to deposit their instruments of acceptance [for the Fisheries Subsidies Agreement] as quickly as possible and how do we work together on gender and trade, including collaboration with ITC."