Remarks by Minister S Iswaran at the WTO Informal Gathering of Ministers at the margins of the OECD Ministerial Council Meeting

1. Let me start by saying that the common thread that runs through the two discussion questions are the notion of WTO reform. Singapore believes we can foster convergence and deliver substantive outcomes at the 13th WTO Ministerial Conference, only if we take WTO reform seriously. Let me elaborate on three points.

2. First, we have to reform the WTO decision making process to foster convergence in Geneva - a point that has been made already. The key is that consensus can be strength or a weakness; which it is depends on the manner in which consensus is exercised. In practical terms, this translates to three specific actions. One, whilst we are expected to pursue our national interests, it is important that we also do not undermine systemic interests of the WTO. Two, is to adopt a win-win approach, rather than a zero-sum game in negotiations - in other words, we have to accept trade-offs and not concentrate on each issue on an absolute-win basis. Three, negotiations should be informed by evidence with Members discussing issues on their own merits.

3. Second, we must reform the WTO rulemaking function by exploring and adopting flexible modalities within the multilateral framework. Today, the global trading system is made up of an interconnected network and latticed structure of multilateral, plurilateral, and bilateral trade agreements. Plurilateral initiatives at the WTO allow Members who are ready and willing to commit to move forward, whilst we keep the door open for others to come onboard. The Joint Statement Initiatives are good examples - they are practical and inclusive, and they provide a valuable pathway to reinvigorate the WTO's rulemaking function to maintain its relevance.

4. Finally, Singapore believes the WTO must reform the dispute settlement system. Without an effective and well-functioning dispute settlement system, the rules would lose their meaning, and Members would be less inclined to commit to them. As a small, trade dependent nation, the WTO dispute settlement system is critically important to Singapore. We are committed to working with all Members to restore a binding two-tier dispute settlement system.

5. I have focused my comments on reform and processes, because we believe that is the most important and durable element of what we seek to achieve, whilst the substantive outcomes, of course, will contribute to a successful 13th WTO Ministerial Conference.

6. Thank you.