The UAE will host the next major meeting of the World Trade Organization, to be held in March 2024, Reuters reported, citing sources.

The UAE and Cameroon have been vying to host the event known as MC13 (Ministerial Conference 13), a high-level event at which trade ministers seek to establish new rules for global trade.

The two countries reached a settlement agreement that the UAE would host the next meeting, known as MC13, and Cameroon would host the follow-up.

The tentative agreement has yet to be approved by the WTO General Council at next week's meeting.