On February 25, Director-General of the World Trade Organization (WTO), Ms. Ngozi Okonjo-Iweala, announced a $50 million fund to support female entrepreneurs in developing countries to seize the enormous opportunities brought by the digital economy.
The announcement was made ahead of the 13th WTO Ministerial Conference, scheduled to take place from February 26-29 in the United Arab Emirates (UAE).
“This groundbreaking initiative demonstrates our shared commitment to empowering women,” said WTO Director-General Dr. Okonjo-Iweala at the launch. “Countries need to find solutions to address the financial challenges women face. When women entrepreneurs meet, they often share that they need financial resources to expand their businesses and take advantage of the enormous opportunities offered by global trade. The $50 million fund will help women-led businesses in developing countries adopt digital technologies and increase their online presence.”
Delegates attend a side event ahead of the 13th WTO Ministerial Conference, scheduled to take place from February 26-29 in the United Arab Emirates (UAE).
For his part, Thani al-Zeyoudi, Minister of State for International Trade at the UAE Ministry of Foreign Trade, said that the country would contribute $5 million to the fund. Mr. Zeyoudi assessed that this initiative not only honors the "invaluable contribution" of female entrepreneurs and women-led businesses around the world, but also recognizes their important role in economic development. According to Mr. Zeyoudi, the reality shows that women make up about 50% of the world's population, but contribute only 37% of global GDP.
The Vietnamese delegation attending the conference included representatives from the ministries and branches: Industry and Trade, Agriculture and Rural Development, Foreign Affairs, Justice, Office of the Inter-sectoral Steering Committee for International Economic Integration and Representatives of the Vietnamese Delegation in Geneva...
The WTO Ministerial Conference is the organization's highest decision-making body and usually meets every two years. Since the WTO was established in 1995, 12 Ministerial Conferences have been held with varying success.
Source: VNA
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