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WTO: 2006 PRESS RELEASES

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20 October 2006
TECHNICAL ASSISTANCE

The Republic of Korea gives USD 200,000 to the WTO technical assistance for 2006

The Republic of Korea has announced a contribution of USD 200,000 to the Doha Development Agenda Global Trust Fund, established in 2002. The donation will be awarded to finance technical assistance as well as training activities thus addressing the needs of least developed countries, developing countries and economies in transition.

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Technical assistance is crucial for these countries to adjust to WTO rules and disciplines, implement obligations and exercise the rights of membership, in order to fully benefit from the multilateral trading system.

The Memorandum of Understanding was signed by WTO Director-General Pascal Lamy and Korea's Ambassador to the WTO, M. Choi Hyuck on 20 October 2006.

At the signing ceremony, the WTO Director-General declared “I am very happy with this donation. This shows Korea's commitment in financing the WTO technical assistance activities which are so fundamental for our poorest members”.

Ambassador Choi Hyuck said “Korea has emerged from one of poorest countries in the world to the 12 th largest economy primarily through an aggressive expansion of trade. Based on this experience, we firmly support increased participation of developing and least-developed countries in the multilateral trading system as a key for their economic development.”

This pledge donation brings Korea's contribution to this Fund up to USD 1.34 million since its first donation in 2001.