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°ÄÃÅÁùºÏ²Ê¹ÙÍø×ÊÁÏ NEWS: 2001 PRESS RELEASES

Press/234
4 July 2001

Korea's Minister of Foreign Affairs and Trade announces contribution to °ÄÃÅÁùºÏ²Ê¹ÙÍø×ÊÁÏ technical assistance in meeting with °ÄÃÅÁùºÏ²Ê¹ÙÍø×ÊÁÏ Director-General

The Government of the Republic of Korea has announced a voluntary contribution of 385 million Korean Won (about 500,000 Swiss Francs) to the World Trade Organization to help finance technical cooperation activities in favour of least-developed countries.

In a ceremony held in Geneva on Wednesday 4 July, the Korean Minister of Foreign Affairs and Trade, Dr. Seung-soo Han, and the Director-General, Mr. Mike Moore, signed a Memorandum of Understanding concerning the contribution.

Dr. Seung-soo Han expressed the hope that the contribution “be used before November 2001 to facilitate the launch of a new round of trade negotiations at the Doha Ministerial Conference”.

°ÄÃÅÁùºÏ²Ê¹ÙÍø×ÊÁÏ Director-General Mike Moore thanked Korea for its voluntary contribution. He said Korea's assistance was “most timely in the light of increased demand for technical assistance from least-developed and other developing countries as °ÄÃÅÁùºÏ²Ê¹ÙÍø×ÊÁÏ members prepare for the Fourth Ministerial Conference in November”.

Since its creation in 1995, the °ÄÃÅÁùºÏ²Ê¹ÙÍø×ÊÁÏ has been receiving voluntary contributions of this kind to assist poorer countries to participate effectively in the °ÄÃÅÁùºÏ²Ê¹ÙÍø×ÊÁÏ and take advantage of existing and new opportunities in international trade offered by the °ÄÃÅÁùºÏ²Ê¹ÙÍø×ÊÁÏ Agreements. These funds are administered by the °ÄÃÅÁùºÏ²Ê¹ÙÍø×ÊÁÏ Secretariat.