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
