Kenyatta praises China Round Table as WTO kicks-off

President Uhuru Kenyatta has praised the China Round Table process for emerging as a valuable mechanism for policy dialogue aimed at strengthening the rules-based Multilateral Trading System.

Speaking ahead of the official opening of the 10th Ministerial Conference of the World Trade Organization (WTO), President Kenyatta said that this process will continue to have the strong support of the Government of Kenya.

“One of the principal gains from this process has to be the further integration of Least Developed Countries and newly Acceded Members into the Global trade regime,” said Kenyatta adding that this being the 20^th year Anniversary of the Organization, it was a time for collective reflection and concrete action.

“This China Round Table process and the Tenth Ministerial Conference, provides us with an opportunity to reaffirm the centrality of the WTO for international cooperation and to reflect it in the outcome document of MC10.”

“National, Regional and Multilateral policy choices that we make will matter.  The choices and positions we take will have consequences.  In 1995, African countries joined in establishing the new global trade body.  The objective was to use trade as an instrument for growth and development.  Since then, the multilateral trading system, with its core values and principles enshrined therein, has served the Continent well.” Kenyatta said

The President noted that Kenya continues to enjoy the benefits of open trade, a system that has kept markets open during periods of crisis when protectionism posed the greatest menace.

“Africa has enjoyed a period of sustained economic growth with increased trade and investment, despite global financial crises, in the past decade.  It is one of the fastest growing regions in the world, now and the next decades to come,” added Kenyatta. “The primary responsibility to industrialize is with Africa.  We need to deepen and sustain domestic economic, legal, institutional and structural reforms.”

“We must make the right policy choices and implement them all the way!  There is no other way.  Improving the quality of governance is work in progress, to which we in Africa are committed.”

The President expressed hope that the China Round Table will lend support for the ratification of the Trade Facilitation Agreement (TFA) and for its early coming into force so that goods and services can flow more freely amongst countries; and in consequence create employment for the youth entering the job market.

“Prosperity is interdependent.  No economy can exist in isolation.  We must avoid fragmentation. This is the value of the WTO: established on the foundation of non-discrimination, a rules-based global market economy, trade openness, transparency, and the rule of law and, a central pillar of global economic governance,” Kenyatta noted.