WT/MIN(24)/ST/12  
26 February  2024 
(24-1427) Page: 1/2 
Ministerial Conference  
Thirteenth Session  
Abu Dhabi, 26 -29 February 2024  Original: English  
 
 
STATEMENT BY H.E. MR GEORGE PAPANASTASIOU  
MINISTER OF ENERGY, COMMERCE  
AND INDUSTRY  
CYPRUS 
It is a great pleasure and an honour to have the opportunity to address, on behalf of Cyprus, the 
plenary of the thirteenth session of the World Trade Organization 's Ministerial Conference.   
At the outset, I extend my sincere appreciation to His Excellency, Dr Thani bin Ahmed Al Zeyoudi, 
for graciously hosting us in Abu Dhabi. Additionally, I would like to express gratitude to 
Director -Genera l Dr. Ngozi and the WTO Secretariat for all their work in the preparation of this 
conference.  
I also wish to extend my congratulations to Comoros and Timor -Leste on their accession to the WTO 
and warmly welcome them, as its newest Members.   
This gathering , dear friends, marks a crucial moment in the global economic landscape. In the face 
of unprecedented challenges, from the ongoing impact of the COVID pandemic to the evolving 
dynamics of international trade, the WTO 's 13th Ministerial Conference serves as  a beacon of hope 
for collaborative solutions to trade agreement negotiations and key issues such as digital trade and 
environmental sustainability. Indeed, our shared commitment to fostering fair, open and inclusive 
trade practices is of paramount importa nce as we address the pressing issues that affect our 
economies and, most importantly, the livelihoods of our people.   
Cyprus, as Member of the EU, is a dedicated supporter for the rules -based trading system and is 
committed to advancing the process of the  WTO reform across its three core pillars, in line with our 
MC12 decisions. As we navigate through a complex geopolitical and economic landscape, a strong 
and effective WTO is essential in ensuring that trade benefits all nations, irrespective of their siz e or 
economic status.  
We have a busy week ahead of us, with diverse but also challenging topics on our agenda. As we 
commence negotiations, let us be guided by the fundamental values of the WTO – fairness, 
inclusivity, and the pursuit of collective prospe rity. These principles should underpin our discussions 
as we strive for balanced solutions and fostering sustainable development for all.   
Restoring a fully and well -functioning dispute settlement system, while preserving its core features, 
is a top priori ty for the EU and for Cyprus. In fact, in the face of an increasingly diverse set of global 
challenges and demands, the reform of the deliberative function of the WTO becomes all the more 
important. Enhancing deliberation on critical issues for the trading  system, such as trade and 
industrial policy and the impact of global environmental challenges, is a key component of WTO 
reform.   
Reaching a WTO Agreement on Fisheries Subsidies in 2022 confirmed the ability of the Organi zation 
to negotiate and conclude m ultilateral agreements. Cyprus, together with the rest of the EU member 
States, recognising the contribution of the agreement to environmental sustainability, was among 
the first to endorse it. We are now given the opportunity to complement the agreement w ith 
additional rules that will help us fully meet the UN Sustainable Development Goal 14.6 
(for Sustainable Fishing).   WT/MIN(24)/ST/12  
 
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  Regarding the crucial topic of agricultural reform, it is imperative to recognise the profound impact 
it holds on global food security an d economic stability. Let us seize this opportunity to achieve 
progress on trade distorting domestic support reform and finding a permanent solution on public 
stockholding for security purposes.   
Also pivotal in today 's global economy is e -commerce, the im portance of which within the WTO is 
undeniable. Developing transparent and efficient rules is essential. At the same time, preventing the 
imposition of barriers is equally important. In this regard, we strongly advocate for a stable and 
permanent solution on the multilateral e -commerce moratorium or, at the very least, an extension 
until our next meeting.   
Finally, the successful outcome of the negotiations on the Joint Initiative on Investment Facilitation 
for Development reaffirms the ability of the multi lateral trading system to deliver, showcasing its 
adaptability and inclusivity.   
Delivering concrete outcomes and devising solutions that lead to a more promising economic future 
for everyone is a responsibility we share collectively.   
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