Germany allocates 500 thousand euros to enhance business skills in developing economies
The German government is contributing €500,000 (about 480,000 Swiss francs) to help developing and least developed (LCD) economies play a more active role in global trade negotiations, with Germany’s alternate permanent representative to the World Trade Organization, Bettina Waldmann, signing the memorandum of understanding on behalf of the German government. In the World Trade Organization, according to the official website of the World Trade Organization (WTO).
The website added that Germany’s contribution to the World Trade Organization’s Global Trust Fund will finance training workshops for government officials to help them deepen their understanding of multilateral trade rules and enhance their negotiating capacity. Nearly 2,800 workshops have been organized since the fund was established in 2001.
Director-General Ngozi Okonjo-Iweala said: “I thank Germany for its generous support of WTO efforts to strengthen the trade capacities of developing economies and least developed countries. This will help more people in these countries to benefit from the opportunities provided by international trade.
“Germany strongly believes in the valuable work of the Global Trust Fund, and we thank everyone who helps spread the idea of international trade rules and hope that many will benefit from our contribution,” Waldmann said.
Overall, Germany has contributed some 26.6 million Swiss francs to the Global Trust Fund over nearly 25 years.