PH backs advancement of sustainable trade at WTO meet

MANILA: The Philippines supports the endorsement of the Coalition of Trade Ministers on Climate's Framework on Voluntary Actions to address trade-related climate challenges at the World Trade Organization (WTO) 13th Ministerial Conference (MC13) in the United Arab Emirates. The Department of Trade and Industry (DTI), in a statement on Monday, said Trade Secretary Alfredo Pascual, during the Coalition of Trade Ministers on Climate event on Sunday, said the Philippines acknowledges the need to collaborate to address climate change challenges, and that the country supports trade and climate strategies for developing and least-developed countries. 'We believe that the work of the Coalition complements the existing work at the WTO on trade and sustainable development. Thus, we welcome discussions and thematic sessions on the transfer of goods and technologies that support climate adaptation and mitigation. In line with this, we must also ensure a fair and just transition towards achieving our climate goals so th at no one will be left behind,' Pascual, who is leading the Philippine delegation at the MC13, said. The Coalition listed eight voluntary trade-related actions at the Ministerial level to address climate crisis and these are: (1) continue to break silos by fostering joint and inclusive Ministerial-level dialogue between trade, climate, and finance Ministers; (2) calls for action on the nexus of trade, climate and sustainable development; (3) actively engage in the WTO on the nexus of trade, climate and sustainable development; (4) support developing countries, particularly the most vulnerable, including least developed countries, small island developing states, and landlocked developing countries. Also, (5) encourage cooperation on trade-related climate action in international organizations or inter-governmental initiatives and meetings; (6) engage in good regulatory practices and international standards setting to help decarbonization efforts; (7) engage with private sector leaders on climate action; and ( 8) explore how trade can further help climate action by identifying synergies between the work of various multilateral, plurilateral, regional and bilateral trade initiatives that work on facilitating dissemination, accessibility and uptake of goods, services, and technologies that support climate mitigation and adaptation. 'As one of the most climate-vulnerable countries in the world, the Philippines applauds the Coalition's commitment to support developing and least developed countries, and small vulnerable economies in their trade and climate strategies,' Pascual said. The DTI chief said the Coalition must ensure a fair and just transition towards achieving climate goals so that no one will be left behind. 'The Philippines will continue its engagement in the Coalition and will work with other members to implement the Coalition's priorities,' he added. The Coalition was established in 2023, with the Philippines as one of its founding members. As of this month, it has 34 member countries. Source: Phili ppines News Agency

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