GENEVA, Oct. 19 (Korea Bizwire) – South Korea has given 390 million won to developing countries in trade aid in the hopes of helping improve trade bargaining power and enabling productive trading, according to the World Trade Organization.
The aid for trade from South Korea was given to the Doha Development Agenda Global Trust Fund, which will be used to help train government officials responsible for trade in developing countries, the WTO said on Wednesday.
Since the fund was established in 2001, over 2,500 education and training programs have taken place.
Choi Kyong-lim, who is a representative of the Permanent Mission of the Republic of Korea to the UN Secretariat and International Organizations in Geneva, said more and more countries are proving that global trade plays a signify role in tackling poverty and boosting economic growth as well as national development, while acknowledging that South Korea fully supports the WTO’s effort to help developing countries.
Roberto Azevedo, Director-General of the WTO, expressed gratitude to the South Korean government, and said the move will help developing and underdeveloped countries play a bigger role in the international trade world.
Since 2002, the South Korean government has given a total of 5 million Swiss francs, which is worth 5.8 billion won, to the WTO to help developing countries in the field of trade.