The Ministry of Trade, Industry and Energy announced on July 20 that Yoo Mi-jin, First Secretary at the Permanent Mission of the Republic of Korea to the United Nations and Other International Organizations in Geneva, has been elected as the Chair of the World Trade Organization (WTO) Committee on Import Licensing.
This marks the first time a South Korean official has been elected to chair this committee. The term of the chair is one year.
The Committee on Import Licensing is one of the 12 committees under the WTO Council for Trade in Goods. It is a standing body that oversees whether member countries' import licensing systems are operated in a transparent and fair manner in accordance with the WTO Agreement on Import Licensing Procedures.
The committee discusses trade issues related to import licensing procedures among member countries and plays a role in enhancing the transparency and predictability of global trade, as well as preventing the emergence of unnecessary trade barriers through Q&A sessions between members.
The Ministry of Trade, Industry and Energy stated, "With First Secretary Yoo taking on the chairmanship at a time when protectionism is strengthening globally, we expect this to serve as an opportunity for South Korea to more actively contribute to the establishment of a transparent and fair global trade order."
(Photo: Provided by the Ministry of Trade, Industry and Energy, Yonhap News)