Monday June 21, 2021

Finland grants €1m to support LDCs trade

Published : 11 Jun 2021, 02:33

  DF Report

The exterior view of the World Trade Organization (WTO) headquarters in Geneva, Switzerland. File Photo: Xinhua.

Finland will support the World Trade Organisation’s trade-related technical assistance (TRTA) activities by slightly more than EUR one million in 2021–2022.

The support is aimed to strengthen least-developed countries’(LDCs) trading capacity, said Ministry for Foreign Affairs in a press release, adding that the agreement on the support was signed on Thursday in Geneva.

Minister for Development Cooperation and Foreign Trade Ville Skinnari says that developing countries’ participation in the rules-based trade system and their capacity to fully engage in international trade benefits Finland, too.

“The significance of trade for poverty reduction and economic development is indisputable, and its importance will grow when the pandemic is over. Finland's support will be used to strengthen developing countries’ capacity to make use of the global rules-based system and their participation in international trade,” Skinnari said.