WTO Reaches , Global Trade Deal , Amid Geopolitical Tensions.
On June 17, the World Trade Organization (WTO) reached a number of agreements, including the first
change to global trading rules in years.
On June 17, the World Trade Organization (WTO) reached a number of agreements, including the first
change to global trading rules in years.
Reuters reports that the WTO conference of over 100 trade ministers was largely seen as a test of multilateral trade relations amid heightened geopolitical tensions.
Reuters reports that the WTO conference of over 100 trade ministers was largely seen as a test of multilateral trade relations amid heightened geopolitical tensions.
The package of agreements you have
reached will make a difference to
the lives of people around the world, Ngozi Okonjo-Iweala, World Trade Organization Director-General, via Reuters.
The outcomes demonstrate that
the WTO is in fact capable of
responding to emergencies of our time, Ngozi Okonjo-Iweala, World Trade Organization Director-General, via Reuters.
High-profile deals under consideration
included a partial waiver of intellectual
property rights for COVID vaccines.
Another deal aimed at curbing fishing subsidies
is just the second multilateral agreement on
global trade reached in the WTO's 27-year history.
The fishing agreement reportedly
has the potential to reverse
the collapse of global fish stocks. .
This is a turning point in
addressing one of the key
drivers of global over-fishing, Isabel Jarrett, Manager of The Pew Charitable
Trusts’ campaign to reduce harmful
fisheries subsidies, via Reuters.
Reuters points out that according to WTO rules,
all decisions must be made by consensus
with any single member able to veto.
It was not an easy process.
There were a lot of bumps,
just like I predicted.
It was like a roller coaster,
but in the end we got there, Ngozi Okonjo-Iweala, World Trade
Organization Director-General, via Reuters.
It was not an easy process.
There were a lot of bumps,
just like I predicted.
It was like a roller coaster,
but in the end we got there, Ngozi Okonjo-Iweala, World Trade
Organization Director-General, via Reuters.
European Trade Commissioner Valdis Dombrovskis
praised the WTO meeting for reaching deals with
global significance despite facing a number of challenges.
European Trade Commissioner Valdis Dombrovskis
praised the WTO meeting for reaching deals with
global significance despite facing a number of challenges