The Republic of Korea has contributed KRW 390 million (CHF 260,000) to the Global Trust Fund to finance capacity-building programs in 2024, with the objective of helping developing economies participate more effectively in global trade.
A significant proportion of this contribution is allocated to the WTO Chairs Program, an initiative aimed at supporting trade-related academic activities in developing economies and least-developed countries (LDCs). The Program currently comprises 36 universities across the world.
Partner institutions of the WTO Chairs Program receive financial and technical support from the WTO for trade-related research, curriculum development and outreach activities. The objective is to strengthen the capacity of academic institutions to advise governments and key stakeholders on trade policy issues.
Director-General Ngozi Okonjo-Iweala said: “The WTO’s capacity-building programs play an essential role in equipping developing countries and LDCs to more effectively harness trade as a force for driving economic development and expanding opportunities for people across the world. I thank the Republic of Korea for generously supporting these initiatives.”
Korea’s Ambassador in Geneva, Yun Seong Deok, said: “As an active participant in the multilateral trading system, Korea strongly supports efforts to integrate developing countries and LDCs into global trade. Our contributions to the Global Trust Fund are a reflection of this commitment. Last year, we significantly increased our funding for the WTO Chairs Program to contribute to further strengthening the expertise of policy-makers in developing countries, who have the best understanding of their countries’ needs.”
With this latest contribution, Korea has donated more than CHF 6.5 million to the Global Trust Fund over more than 20 years.