Paraguayan President Champions Trade Openness in WTO Address
Paraguayan President Santiago Peña delivered a powerful speech at the headquarters of the World Trade Organization (WTO) in Geneva, emphasizing the critical importance of trade openness and multilateralism. In a statement issued by the Ministry of Industry and Trade (MIC), Peña highlighted the significance of global integration in boosting trade and strengthening resilience amid uncertain times.
Key Points from President Peña’s Speech:
- Importance of Global Integration:
- Peña stressed the vital role of global integration in enhancing trade and building resilience in the face of uncertainty.
- He emphasized that multilateral trade is essential for economies like Paraguay’s, particularly due to the significant role of agriculture in the country.
- Commitment to Multilateralism:
- The President advocated for a greater commitment to multilateralism as the solution to crises, with clear and fair trade rules at its core.
- Peña highlighted that Paraguay’s development hinges on increased integration in global markets rather than isolation.
- Fair and Sustainable International Trade:
- Peña called for fair and sustainable international trade that does not favor larger economies over developing countries.
- He underscored the role of middle-power countries, like Paraguay, in strengthening the Multilateral Trading System in times of uncertainty.
President Peña’s Vision for International Trade:
- The President emphasized the need for fair agricultural trade reforms to create a less distorted market and enhance food security.
- He called for the restoration of accessible dispute settlement systems and environmental measures that promote, rather than hinder, international trade.
- Peña stressed the importance of fairness and equality as guiding principles in international trade to ensure equitable outcomes for all nations.
In Conclusion:
President Santiago Peña’s address at the WTO underscored the critical role of trade openness, multilateralism, and fair international trade in fostering global economic growth and stability. His message resonates with the need for cooperation, coordination, and collaboration among nations to overcome challenges and ensure a prosperous future for all. Let us heed his call for a more inclusive and equitable international trading system that benefits nations of all sizes and levels of development.
