The tenth WTO ministerial conference (MC10) is scheduled to be held in Nairobi, Kenya between December 15-18.
From the global entrepreneurial summit (GES2015) meeting held in July which saw the visiting of President of the United States of America, to the WTO conference scheduled in Nairobi from December 15-18, it’s with no doubt that this year will greatly be remembered especially by the business fraternity for the contribution it has had on the Kenyan economic growth. The decision to meet in Nairobi was arrived at in a meeting held by the General Council of the organization in December 2014.
The WTO conference is held after every two years and this year’s meeting will be the tenth meeting. The WTO is a global body that deals with the establishment and implementation of rules to be used among nations in their trade. It also becomes an arbitrator in case a dispute occurs between nations who are members.
WTO has a total membership of 161 nation states and Kenya became a member of the World Trade Organization in January 1995 but has been a member of GATT since February 1964.
The WTO has put in place a ministerial conference that after every two years a meeting is held and the attendants are the members of the organization. The first conference took place in Singapore and was held from 9th – 13th December 1996.
Objectives of a WTO conference
Some of the key issues that will be discussed during the conference include;
- Follow up and ensure that the WTO trade agreements are well administered and implemented among nations,
- Listening to any dispute that has risen and seek to resolve it
- Offer assistance needed and educating/training especially to the developing nations to ensure that the residents are offered employment opportunities, living standards are improved and the economy of the nations also improves,
- The WTO is also aimed at ensuring that the policies governing the body are in good terms with other trade organizations globally.
How Kenya will benefit from the WTO conference
The conference will be a promotional tool for the Kenyan tourism and business opportunities to the whole world. In the recent past the Kenya government has been hardly hit by the western nations advising their citizens not to visit Kenya due to terrorism attacks. However, the global entrepreneurial summit meeting and the WTO conference will be as an invitation to the whole world that Kenya is no longer unsafe.
Tourism sector in Kenya is going to receive a nod and in the following months expected of regain its global competitiveness. Also, other business opportunities will be explored by international entrepreneurs leading to increased investments in Kenya.