GENEVA: On 15 April 1994, 123 countries gathered in Morocco to sign the Marrakesh Agreement Establishing the World Trade Organisation (WTO), the foundation of today’s rules-based international trading system.

Director-General Ngozi Okonjo-Iweala marked the anniversary by underlining the critical role trade has played in improving peoples’ lives around the world.

‘Thirty years ago, over 120 countries united with a shared vision: to transform the world through trade,’ WTO Director-General Ngozi Okonjo-Iweala said in a video to mark the anniversary. ‘They created a new global public good: one committed to using trade to raise people’s living standards, create jobs, and promote sustainable development.’

‘Countries have used the open and predictable global economy anchored in the World Trade Organisation to accelerate growth and development. Over the past three decades, more than 1.5 billion people have been lifted out of extreme poverty, embodying the enduring promise encapsulated in the Marrakesh Agreement.’

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As we mark the 30th anniversary of the WTO, this promise still stands as a beacon. The WTO now counts 164 – soon to be 166 – members. The way we do business across borders has evolved. So have the challenges to sustainability and socioeconomic inclusion. But trade remains a vital tool to solve these challenges and build a brighter future for people around the world.’

The WTO has set up a dedicated web page marking the 30th anniversary of the Marrakesh Agreement and highlighting some of the WTO’s achievements over the last three decades under the spirit of Marrakesh.

Source: Emirates News Agency