 Welcome to this press conference on trade and investment. No recovery without trade and investment recovery. This is also important in the run-up to MC13, ministerial meeting on trade happening in the UAE. So big welcome to Dr. Ngosi, director general for WTO and minister Tani for foreign trade at the UAE. And minister is also hosting the trade minister meeting MC13. We have had quite a lot of focus on trade and investments during this annual meeting. And we just had a big plenary in the plenary hall, also on the importance of trade and investments. And we know that last year, trade grew 0.8 percent, the global economy grew 3 percent. And even if it looks better for this year, we really need to revive growth and investment to really see an inclusive job creating and sustainable recovery. So there's also a statement that I think we have shared with the journalists, a call to action from CEOs that met during lunch today, where they also underlined the importance of ensuring open and resilient markets. So what have we done this week? We had ministers coming together through the Coalition of Trade Ministers for Climate and the first steps towards a similar body, a climate FTI coalition of investment promotion agencies. We also made progress towards starting to implement the investment facilitation for development agreement. And there is also huge excitement about trade tech initiative around which we'll host a forum during MC13. So trade tech will make trade more efficient. So we should also use the technology that we're hearing so much about these days to also facilitate trade more effectively. And then we can also indirectly drive down the price of input factors. Progress on a new streamlining services initiative to grow services trade. And we had a launch of trade facilitation Mango Hub in East Africa as well as a project in El Salvador. New country project to grow digital FTI. Discussions about improving labor outcomes and supply chains. New support for ASEAN's efforts to lead the way on digital trade. I just wanted to show that we've also been walking the talk and working hard during this week. So Dr. Angosi, you were there and together with the minister during the lunch. You participated at a lot of events there. So what are your takes on what happened during the annual meeting and the support for your important agenda? Well, thank you, Boghe. I think one key important takeaway is that we cannot have a strong global recovery without trade. And we need open, predictable, and stable trade multilateral trading system in order for us to achieve to reinvigorate growth as well as to achieve some of the big things we are looking for, big problems we are trying to solve, the green transition. Trade is very important, the digital transition. Trade is very important to underpin all of this. The fastest growing segment of trade is digitally delivered services trade, which is growing at 8% per annum. So the other thing is green trade. We've seen a tripling in the value of green trade from 2000 to now to 1.9 trillion. And we think that dollars and we think that there's the prospects for more are good. So whilst the forecast of 3.3% that we had made for this year were a little less optimistic because of all the disruptions, the Red Sea disruptions, the Suez Canal, even the Panama Canal, we think and the higher cost of trade that comes from all this does have a bearing. We may not come in at 3.3 maybe lower, but still. I think that is much better than the performance last year, as Boghe said, and there are bright spots in trade, green, digital. So let me just say a word on AI. By the way, we believe that technology, I know the minister is going to speak to this because there's a wizard on it, but we see AI as helpful in terms of reducing costs, trade costs, making more efficient supply chains. And I'm proud that at the WTO, we have some agreements that are very supportive of technology and AI. So let me leave it there. No, thank you. You mentioned green, digital. I guess also services in the same bucket. Services in the same bucket. And we also believe in inclusion. So trade should be green, digital and inclusive. Hair, hair. Minister Tane. Over to you. Thank you. Thank you, Boghe. I share the feedback from Her Excellency Tuxedo Ngozi on that. If we really want to see a development trade is one of the main, is the main solution. But it's not only for development. It's about prosperity. It's about people. It's about inclusion, as she said. And moving forward, we have to ensure that trade is continuing the growth so we can have the recovery as well as taking the global economy growth moving forward. We're really seeing many of the solutions that could play a major role. And technology is one of them. When it comes to trade tech, is going to be key aspects for the future of the trade moving forward. And that's why we collaborated with the World Economic Forum and with Excellency Boghe and his team who were fantastically working the team spirit for the last one year and looking forward to continuing the upcoming years working together on this. The report is very comprehensive. It shows some of the experience, some of the cases. It talks about what are the main factors when it comes to technology. Here we're talking about the automations of the customs, automations of trade finance, where blockchain can play a major role. Talking about the supply chain, how can we reduce the risk, reduce the losses and improve the efficiency when it comes to the supply chain. One of the most important things in the whole report, the systematic approach. And I think it was one of the smart action that Dr. Ngozi did in MC-12, where start breaking some of the hysterical blocked topics into phases where things has been moving forward in a very systematic way. The same thing is applied here, where countries cannot just come and roll out the technology aspect and trade in a full-fledged day one. It has to be taken as steps where they're assured that it's working tailored to their own market and economies, then they go to the next and third phase where they go and do global projects together. We're ready as a UAE to work with the WTO, with you, Dr. Ngozi, with your Excellency Borchayan, the World Economic Forum, to apply and replicate, tailor some of the experience that we have globally, so we can ensure the prosperity and the growth of the trade. Thank you. Before I open up for the press, just one short question to you, Dr. Ngozi. Last year we had 0.8% trade growth. This year maybe three-ish. What would it take to get trade back on the growth level that it had in the past? Well, I think that the interesting thing about the global economy is that there's a feedback loop. So global growth feeds back into trade, because of course it affects aggregate demand. At the same time, trade feeds back into global growth. So the two are really entangled. If we have some exogenous factors that also contribute to improving overall global GDP growth, that will feed back into trade, and that will help. But let me say specifically some things I think that will help under global. I think a recovery in China, the Chinese economy, is still experiencing some problems, as we all know, the property debt and other issues, and then structural issues of aging within China. But I'm also quite confident that the government, the Chinese government, will take measures to stimulate the economy. They're already taking some monetary policy measures, cutting interest rates, and I'm sure they will do a fiscal stimulus, and we will begin to see growth rebound. And if that happens, given the weight of China and the world economy, I think that will be very good. The United States is doing relatively well. Europe is another spot where things are not so good. Spotty. Some things are spotty. So I think that if we can get some growth back, that will help. So just to mention, but at the same time, I also believe that some emerging sectors, if we investment in these areas we talked about, and the minister talked about supporting digital trade and digitally delivered services trade in particular, I think would really contribute. So making use of those bright spots. That's my answer. Thank you. Are there any questions to the panel? Or was it all very clear? Sean? Berti? Thank you. We're all very curious about preparations towards MC-13 and prospects for that. I could say a word or two on that. I should be talking about MC-13 first, shouldn't I? I think you're so experienced that you under-promise and over-deliver always. Well, let me say that we're working very hard with the strong partnership of His Excellency, Minister Aoudi, who is chairing the chair of the MC-13 on making the preparations. As we speak, we have ambassadors negotiating day and night in Geneva in order to be able to deliver on some of the issues that we're working on. We are hoping to see progress on sustainability issues on fisheries, we're negotiating a second phase of the fisheries subsidies agreement and we hope that that is something we can hopefully ministers can come to some conclusion on. We are working on development issues. There are some specific requests that developing countries have of measures within some of our existing trade agreements. They think that if they could be modified, would help them develop their economies better and have more policy space. We're working on those. We're working on WTO reform, reform of the dispute settlement system in particular, which is very important to us and we believe we need, as part of a modern WTO going forward, we hope to see some progress on that. And agriculture, at least last MC, it was the one area where we were not able to make as much progress, so hopefully we'll agree on a basis. We will not be delivering an agricultural agreement, but can we come to a common understanding of the work that needs to be done? Then I want to end. There are so many things, but we have an investment facilitation agreement that Boghe referred to, which is very important. It's a plurilateral 110 countries are involved in it of which 80 are developing countries and we hope to be able to wrap that up in attempt C13. If we do, I'll be very proud and happy because it does do several things to make investment more attractive in our member countries who have negotiated this. And we also hope to do some non-inclusion. We're working on launching a fund for women for $50 million to support women in digital, accelerating digital trade for women. Great, Minister, I want to add something. I think Her Excellency Dr. Ngozi covered most of the stuff. It's a member-driven negotiation, so as Her Excellency said, everyone is looking at Geneva and now waiting the ambassadors to move on the topics. What we promised that it's going to be a successful MC where we bring things together. It's going to be a futuristic of its nature where we look at the future of trade and we're looking forward to work with everyone. And I just said, of course, we hope to have two new members join the WTO, making us 166. We've got 22 countries in the queue waiting to join and you know it takes a lot of work, but there'll be two new members. So that's an, you know, an accession so we'll be delivering something. Please. Thank you for taking my questions. I'm Azusa Nakanishi for Yomiya Read Japanese Newspaper. Last year, you said that dispute settlement body issue is a priority to be solved before the next MC-13. But MC-13 is next month. Do you think it's like impossible to be solved in next MC-13 or thank you? Well, thank you. Let me give ministers, members, the credit. At MC-12, they agreed that the dispute settlement system should be reformed by 2024. That's the language. What we are trying to do is see how much of this reform can we deliver by MC-13, which is in five weeks time. So we hope to make some progress. It may not be the entire reform of the system because it's quite an important reform. But the good news is we've been working away steadily and so we'll make some progress on that, on that reform and then we could continue and finish it later. So yes, I think ministers are going to be able to deliver something on that. Others? Okay. Do you want to say something at the end or welcome to UAE? Looking forward to host everyone. Looking forward to be an inclusive. We're looking forward to work with everyone to ensure we bring the huge growth to the global trade. Well, yes, I see you in Dubai. No, sorry, see you in Abu Dhabi. I wanted to end with that. I'm very hopeful for a successful ministerial conference. It will not be easy in these uncertain times, but we're looking forward to deliveries that will strengthen the WTO and the multilateral trade system. And inclusive growth and jobs and investments. That's right. Thank you. Thank you all for coming and see you all in Abu Dhabi. What are the dates again? 26 to 29 of Abu Dhabi for a very important meeting. Thank you. Thank you. Thank you.