Wto next meeting12/31/2022 ![]() ![]() “I don't know if we can land all of them. OKONJO-IWEALA WARNS OF ‘LANDMINES’ AS MC12 STARTS: WTO members are trying to reach deals covering harmful fishing subsidies, a waiver of intellectual property protection for Covid-19 vaccines, food security concerns and tariff-free trade on the internet. And there is tension in the European Union camp over how its representatives are handling key health issues, specifically the connection between the intellectual property waiver for Covid vaccines and the EU’s hope for a broader package of trade responses to the pandemic. Trade Representative Katherine Tai outlined a long list of topics for the WTO to consider as part of a potential reform agenda, including the hot button issues of fundamental workers’ rights and climate change. The food security declaration focuses on making food available in developing countries while working towards increasing productivity and production.Īs regards the World Food Programme (WFP), there would be no export restrictions on WFP purchases for food security in other countries However, domestic food security will take priority.- As the World Trade Organization gathered on Sunday for its first decision-making meeting in nearly five years, Director-General Ngozi Okonko-Iweala warned that a few contentious issues could still derail efforts to reach agreements this week. On e-commerce, while agreeing to the temporary moratorium, India asked for intensifying discussions on the moratorium including its scope, definition and impact for taking an informed decision on the same. The reform would deliver better trade outcomes for developing countries.Ī reference to gender, environment and MSME has been made in the WTO reform agenda. The dispute settlement body will be revived and play its expected role in settling trade disputes. ![]() The agenda decided on WTO reforms will make the WTO a more efficient, agile body. There would be a faster pandemic response in future and there would be fewer trade barriers in pandemics. The TRIPS decision will boost export, vaccine equity, accessibility and affordability.Ī country can authorise the production of vaccines patented elsewhere and there would be no consent required as well as there would be no limit on exports.Ī decision on diagnostics/therapeutics would be taken in 6 months. There would be very strict controls on overfished areas so that fish stocks are restored.Īdditionally, no subsidies are to be provided for fishing in areas outside EEZ or RFMOs. On fisheries, there would be a check on illegal unreported and unregulated fishing in our waters and elsewhere. Here are the major outcomes according to the finance ministry at the WTO MC 12 meeting: India is able to build consensus and get a win-win outcome for the world," he said. This is a result of the confidence in new India. "India today bats on the front foot rather than being fearful on various issues be it environment, startups, MSMEs or gender equality. Goyal also admitted that India and the developing countries accepted certain compromising decisions when the WTO was established 30 years ago and during the Uruguay round of negotiations. He said that India stood strong for its Micro, Small and Medium Enterprises (MSMEs), farmers and fishermen at the WTO. India has been able to secure a favourable outcome at the WTO after many years, despite a strong global campaign against our farmers and fishermen, said Union Minister Piyush Goyal. The 12th ministerial conference of the World Trade Organisation (WTO) concluded on Friday in Geneva. ![]()
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