Geneva, June 17, (dpa/GNA) – The ministerial meeting of the World Trade Organization (WTO) in Geneva, finalised several agreements early on Friday morning after the 164 member countries extended their talks for a second day.
Lengthy applause erupted among delegates when it became clear there would be no objections raised to the agreements. “You are not going home empty-handed,” WTO chief Ngozi Okonjo-Iweala said, adding that the deals proved the WTO was “capable to respond to the emergencies of our time.”
WTO members agreed on a limited suspension of Covid-19 vaccine patents, to allow vaccine production in more countries. They also adopted an agreement, banning subsidies to illegal and unregulated fishing.
The delegates also promised to do more, to ensure global food security and extended an agreement, not to impose tariffs on international trade for the time being.
Finally, the meeting agreed on an approach for implementing urgent reforms, to the way the WTO works. An expected deal on new agricultural negotiations did not materialise.
The meeting’s main declaration was notably lacking in detail. “We commit to working towards necessary reform of the WTO … we envision reforms to improve all its functions.”
The declaration also stressed the importance of supporting the participation of developing nations in international trade and the importance of giving their needs special consideration.
The WTO’s dispute settlement mechanism, which has effectively been suspended by the blocking of new appointments to the WTO’s appellate court by the United States, is to return to operation in two years.
The meeting was originally scheduled to end on Wednesday, but in the absence of any significant outcomes, it was extended to Thursday and then again overnight into Friday.
GNA