Brussels — Ahead of the World Trade Organisation’s (WTO) 10th Ministerial Conference in Nairobi, Kenya, to be held from 15 to 18 December 2015, Brad Smith, chair of the trade working group of the Global Federation of Insurance Associations (GFIA) said:
"As a strong supporter of free international trade, GFIA commends the WTO’s efforts to promote economic growth and development through initiatives such as the Doha Development Agenda. GFIA hopes that the Ministerial Conference in Nairobi will result in clear and concrete progress towards multilateral trade liberalisation. The international business community looks to the WTO to send a strong signal that trade liberalisation remains a priority, even in the face of the ongoing slowdown in trade growth and increasing protectionism in certain countries.
"Significant progress at the WTO would also complement the unprecedented trade negotiation activities currently taking place at different levels around the world. The 2015 10th Ministerial Conference provides a unique opportunity to demonstrate progress in key areas of work, such as the ratification of the Trade Facilitation Agreement and the implementation of all other elements of the Bali Package, including the participation of emerging markets.
"In addition, GFIA would like to urge the WTO to be ambitious and provide clear guidance to post-Nairobi work. In this respect, GFIA believes that the greatest opportunity for progress at the WTO is with additional liberalisation for trade in services and particularly those such as (re)insurance, which is an essential component of international trade.”