Let me begin by offering a warm welcome to the delegation from Madagascar led by Her Excellency Priscilla Andrianarivo. I thank Madagascar for the significant preparations and work which I know go into a Trade Policy Review and we express our gratitude to colleagues from the WTO Secretariat for their respective reports, and as ever, to our Discussant, Her Excellency Ms Clara Delgado Jesus, for their insightful comments.
Chair, we are grateful for the Reports provided by this Trade Policy Review, which have given us important insights into Madagascar’s own economic efforts, and reforms, over the review period.
As we have heard this morning regarding Madagascar’s aspirations on trade, the Reports highlights the growth in trade Madagascar has seen over the period of review, initially accounting for just under half of GDP to now over two thirds.
We welcome continued efforts to integrate into global supply chains and note that this is key to addressing the severe levels of poverty that are present. The Reports note the importance of Madagascar realising its growth potential through improving the economy and tackling corruption; we look forward to supporting Madagascar to go further and faster on this.
We hope to also see further growth in Foreign Direct Investment; Madagascar’s location and array of resources make it an attractive destination for this and we hope to see the recent reforms to the Mining Code and the introduction of the new Investment Law create even more opportunities here. In this context it would be remiss of me not to mention the opportunities that the International Foodservices Distribution Association (IFDA) could afford here and we encourage Madagascar to consider their participation.
Chair, the UK and Madagascar have a positive and longstanding relationship. As well as being the first official diplomatic partner Madagascar ever had, the UK and the English language has been a consistently trusted and regular feature in Madagascar. We are particularly pleased to see this relationship marked last November by Lord Collins, FCDO Minister for Africa, meeting with General Ravalomanana.
This was a valuable conversation and we were particularly pleased to hear of the focus on deforestation and the importance of raising awareness on its impact. One of the first things most people picture when thinking of Madagascar is your beautiful landscapes. These initiatives are crucial in preserving Madagascar’s natural environment, ensuring its beauty and biodiversity remain intact for future generations, as well as visitors.
In this conversation we also encouraged Madagascar to interrogate the decline in per capita income since independence in 1960 and promoted the need for national industrialisation to tackle extreme poverty. We discussed economic diversification and the value of new partnerships. We look forward to seeing increased efforts to deliver regulatory reforms and the types of government-backed initiatives that make Madagascar a more accessible and easier-to-navigate option for foreign investors.
Our relationship recently reached another significant milestone with Madagascar entering into our regional Economic Partnership Agreement. This will offer better access to the UK market, stimulate growth through foreign investment and increase development cooperation, which can support infrastructure, natural resources, and environmental projects in Madagascar. We hope this year we can propel our technical engagement in order to see trade between our countries flourish.
There are also some exciting engagements to look forward to. Next week, the International Trade Centre and the UK Trade Partnerships Programme bring together operators in the textile industry to prepare Malagasy enterprises on the new sustainability regulations for UK market and the EU.
I also welcome Madagascar’s efforts to support women in trade and gender equality, in particular its work to meet AfCFTA protocols [the African Continental Free Trade Area]. The UK encourages Madagascar’s engagement in the important work happening here in Geneva too, to which they can make valuable contribution, not least the Informal Working Group on Trade and Gender, of which my Ambassador co-chairs, along with our esteemed discussant today.
As a member of several negotiation groups at the WTO, such as the G90, the African Group, ACP, the LDC group and the G33, we hope Madagascar continues to make the most of support available to LDC Members. For example, the Enhanced Integrated Framework, providing in-country technical assistance and the Advisory Centre on WTO Law which provides legal support on WTO issues, both of which the UK is very pleased to support.
As we consider participation in activities here in Geneva, and the opportunities, I would also like to take this opportunity to encourage Madagascar to ratify the ‘Fish 1’ agreement, as well as to consider their participation in the e-commerce JI, and on domestic regulation, in addition to the aforementioned IFDA.
Chair, Trade Policy Reviews are an important time of reflection. It is a time to both take stock of successes and to set goals. In this regard, it is positive to hear that the government has expressed willingness to liberalise the market and to attract more investors, notably with the promotion of the Special Economic Zone and the new Investment Law.
We encourage Madagascar to address barriers around monopolies and dominance in certain markets. We look forward to proactive steps to encourage competition, particularly in the telecommunications, vanilla, lychee, and renewables industries.
I’d also like to take this chance to underline the valuable potential for expansion in renewable energy in Madagascar and say that the UK is committed to accelerating the global clean power transition and to work with countries who share our ambitions on this.
Finally, Chair, I wanted to end with a few words of Malagasy wisdom, from the epic poem Ibonia: “So long as this tree is green and healthy, I will be all right”. Cultivating an economy aligned with the international rules-based order of which the WTO is part of will mean not just Madagascar, or the WTO blossoms: we all do.
Again, I would like to thank the WTO Secretariat, the discussant and Madagascar for the huge amount of work that goes into a Trade Policy Review, and for the informative answers to our questions. We hope this will be a valuable exercise in transparency.
