Austria has made a significant contribution of EUR 200,000 (approximately CHF 190,000) to the Global Trust Fund in 2024. A substantial portion of this funding is earmarked for the World Trade Organization (WTO) Chairs Programme, a laudable initiative focused on building expertise and capabilities in trade-related academic activities within developing economies and least-developed countries (LDCs). Currently, the Programme encompasses 36 universities worldwide.
The WTO Chairs Programme operates by providing financial and technical support to academic institutions, aiding them in trade-related research, curriculum development, and outreach activities. The fundamental goal is to enhance the capacity of these institutions to offer informed advice to governments and key stakeholders on crucial trade policy matters.
Director-General of the WTO, Ngozi Okonjo-Iweala, expressed gratitude for Austria’s continued support, stating, “The WTO Chairs Programme plays a valuable role in helping developing countries and LDCs leverage academic research to inform trade policy-making so that it delivers more effectively for sustainable economic growth and development, improving people’s lives and livelihoods. I welcome Austria for generously renewing its yearly contribution.”
Austria’s Minister for Labour and Economy, Martin Kocher, highlighted the vital role Austria’s contribution will play in enhancing comprehension of global and regional trade issues in developing countries and LDCs. Against the backdrop of challenging times, Kocher emphasized the importance of keeping markets open, supporting research at all levels, and promoting a level playing field for multilateral trade. He believes these efforts can significantly contribute to boosting economic growth and creating jobs in these countries, ultimately benefiting all parties involved.
This recent contribution solidifies Austria’s longstanding commitment to the WTO Trust Funds, with an impressive cumulative contribution of approximately CHF 6 million over the span of more than two decades. Austria’s continuous support underscores the nation’s dedication to fostering equitable trade practices and empowering developing economies on the global stage.
