Importance of the Multilateral Trading System and the WTO
1. Ministers emphasize the value of the rules-based multilateral trading system and agree to strengthen it and make it more responsive to the needs of Members, especially in the current challenging global economic environment, in order to stimulate economic growth, employment and development.
2. Ministers underscore that the WTO's role in keeping markets open is particularly critical in light of the challenging global economic environment. The WTO has a vital role to play in the fight against all forms of protectionism and in promoting economic growth and development. Ministers also acknowledge that experience has shown that protectionism tends to deepen global economic downturns. Ministers fully recognize WTO rights and obligations of Members and affirm their commitment to firmly resist protectionism in all its forms.
3. Ministers underline the importance of the work of regular WTO bodies including their role in the oversight of implementing existing Agreements; dispute avoidance; transparency through monitoring and reporting and as a forum for the consideration of trade-related issues raised by Members. Ministers call for strengthening and improving their functioning.
4. Ministers recognize the important asset that the WTO Dispute Settlement system represents and commit themselves to strengthen it, including through concluding the DSU review negotiations.
5. Ministers welcome the accessions of Vanuatu, Samoa, and the Russian Federation to the WTO and recognize the contribution of accession to strengthening the multilateral trading system. Ministers remain committed to efforts to facilitate accessions, in particular of least-developed countries (LDCs).