US, China Join WTO Initiative on Trade and Environmental Sustainability
The U.S. and China joined the World Trade Organization initiative on trade and environmental sustainability, dubbed the Trade and Environmental Sustainability Structured Discussions, as co-sponsors, the WTO said. At the Nov. 4 WTO meeting, members welcomed the additions of the globe's two largest economies and also expressed their support for a draft ministerial statement that would set out goals for advancement in key areas such as trade and climate change.
Sign up for a free preview to unlock the rest of this article
If your job depends on informed compliance, you need International Trade Today. Delivered every business day and available any time online, only International Trade Today helps you stay current on the increasingly complex international trade regulatory environment.
“We believe that together we've crafted a strong statement that will serve as a solid foundation for our work post MC12,” said Ambassador Stephen de Boer of Canada. “And with your green light, we will intensify our efforts towards bringing additional members into the fold. Growing the number of co-sponsors and bringing new voices into the conversation will help to strengthen the TESSD as a place to generate ideas. We truly believe that the WTO can play a role in addressing the pressing challenges that face the world today."
TESSD kicked off in November 2020 and was meant to buttress the work of the WTO's Committee on Trade and Environment. The initiative looks to "promote transparency and information sharing, identifying areas for future work within the WTO. It also seeks to support technical assistance and capacity building needs, particularly for least-developed countries, and to work on deliverables for environmental sustainability in the various areas of the WTO," the WTO said. Fifty-six WTO members are involved in the initiative's discussions.