- Achieved deals for food, health and fishing
- A former challenging India joins the consensus
- It is clear that the package increases confidence in the WTO
GENEVA, June 17 (Reuters) – The 164 members of the World Trade Organization approved a series of trade agreements early Friday, including fish commitments and promises of health and food security after more than five grueling days of talks.
The deals were concluded within five days of negotiating a conference of more than 100 trade ministers, seen as a test of nations’ ability to conclude multilateral trade agreements amid geopolitical tensions intensified by the war in Ukraine.
Delegates applauded after accepting a package of six agreements shortly before dawn on Friday.
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Director General Ngozi Okonjo-Iuela told them: “The package of agreements you have reached will change the lives of people around the world. The results show that the WTO is in fact able to respond to emergencies of our time. “
Earlier, she called on WTO members to consider the “delicate balance” needed after nearly 24-hour talks, which were extended by two more days and were sometimes accused of anger and accusations.
At one point, a series of demands from India, which sees itself as a champion of poor farmers and fishermen as well as developing countries, seemed to paralyze negotiations, but gadgets were found, trade sources said.
WTO rules dictate that all decisions be taken by consensus, with each individual member being able to veto.
The package, which Okonjo-Iweala called “unprecedented”, included the two most important deals in question – fisheries and a partial waiver of intellectual property rights (IP) for vaccines against COVID-19.
The agreement to limit fishing subsidies is only the second multilateral agreement to set new rules for global trade in the 27-year history of the WTO and is much more ambitious than the first, which was designed to cut red tape.
The fisheries subsidy deal has the potential to reverse the collapse of fish stocks. Although significantly reduced, it still received approval.
“This is a turning point in tackling one of the key drivers of global overfishing.” said Isabelle Jarrett, manager of The Pew Charitable Trusts’ campaign to reduce harmful fishing subsidies.
The deal to partially abandon IP to allow developing countries to produce and export vaccines against COVID-19 has split the WTO for nearly two years, but has finally passed. It also drew the fiercest criticism from campaign groups, who say it barely extends the existing exception to WTO rules and is too narrow as it does not cover therapies and diagnostics.
“Simply put, this is a technocratic fabrication aimed at saving reputations, not lives,” said Max Lawson, co-chair of the People’s Vaccine Alliance.
An agreement was also reached on Thursday to maintain a moratorium on e-commerce tariffs, which is considered vital to allow the free flow of data worldwide. Read more
Overall, many observers voiced broad support, saying the deals should boost the WTO, which has been weakened by former US President Donald Trump’s crippled ability to intervene in trade disputes, and have pushed for reform.
“There is now a package at the (ministerial conference) table that will provide a real boost to the credibility and strength of the WTO system,” said John Denton, secretary general of the International Chamber of Commerce, before the package was adopted.
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