The World Trade Organization (WTO) opened its first ministerial conference in four years on Monday, where trade chiefs of its 153 members are due to review the activities of the
multilateral trade body.
It would be "a platform for ministers to review the functioning of this house" and an occasion "to send a number of strong signals to the world with respect to the entire WTO waterfront of issues, from monitoring and
surveillance to disputes, accessions, aid for trade, technical assistance and international governance," WTO Director-General Pascal Lamy said.
For the three-day conference, the first one after trade chiefs last time met in 2005 in Hong Kong, more than 2,700 delegates, along with 400
journalists and nearly 500 members of civil society, would have discussions under the main theme "WTO, Multilateral Trading System and Current Global Economic Environment."
The conference is taking place as world trade is emerging from its worst contraction in decades due to the impact of the financial and economic
crises.
World trade will shrink by more than 10 percent in volume terms this year, according to the WTO.
However, the conference would not take any decision on the Doha Round of global trade talks, whose early conclusion could have unlocked huge
trading potential.
It "will not be a negotiating session," Lamy said, adding there would be discussion on the Doha Round and how best to advance it.
Although trade negotiations are not on the agenda of the conference, which is unlike the previous ones, the long-stalled Doha Round is expected to be an important issue in ministers' speeches and sideline talks.
On the eve of the conference, WTO developing members called for urgent action to resolve the remaining issues in the Doha Round so that a shared objective to conclude the negotiations in 2010 could be accomplished.
"There is urgent need to translate political statements into concrete engagement," said a statement issued by the Group of 20 (G-20) coalition of WTO developing members, including India, Brazil and China, on Sunday.
Afghan investors living in Dubai are reluctant to invest in home country due to security concerns, a private television channel reported Monday.
"Afghan investors living in Dubai do not want to shift their capital to their country due to security concerns," Tolo broadcast in its main news bulletin.
Although the Afghan investors have suffered due to financial crisis in Dubai, the security problem at home has discouraged them to invest in their homeland, the television further said.
However, it did not say the number of Afghan investors living in Dubai.
The process of investment in Afghanistan, according to media reports has been affected due to attack on businessmen and kidnapping for ransom.