ABU DHABI: The Ministry of Economy on Monday has said the two proposals by the United States to the World Trade Organisation (WTO) — related to developing member countries and the benefits granted to countries with the special status — will not affect the UAE’s current obligations to the organisation.
On Friday, US President Donald Trump pressed the World Trade Organisation to stop designating China and other countries as “developing” nations, a label that allows them to receive lenient treatment under global trade rules.
In a statement in response to press reports citing the potential effects of the US proposals to the UAE, the ministry stressed that the Special and Differential Treatment (S&D) flexibilities that all developing countries enjoy, refers to a legal category in the WTO’s current conventions, providing developing countries the flexibility to meet their obligations.
The ministry said the UAE will not oppose related decisions if approved by the WTO’s member countries.
The ministry statement noted the US proposal as saying that the inability to differentiate between developed and developing countries will put the WTO at risk.
However, the Ministry stressed that the UAE will not be affected by the proposal because it has completed scheduling its commitments in terms of goods and services since 1996, adding that it believes in trade liberalisation.