WTO's 12th Ministerial Conference Opens with Calls for Global Cooperation

The World Trade Organisation's 12th Ministerial Conference (MC12) has opened at its headquarters in Geneva, Switzerland, with discussions focusing on critical issues such as the TRIPS waiver for COVID-19 vaccines, pandemic response, fishery subsidies, agriculture, food security, and the WTO's reform and future work priorities. WTO Director-General Ngozi Okonjo-Iweala stressed the need for global cooperation to address multiple crises, including the pandemic, food shortages, climate change, and regional conflicts. China's Commerce Minister Wang Wentao echoed her sentiments, highlighting the importance of the WTO-centered multilateral trading system and China's commitment to supporting its reform.

Key Takeaways:

• The 12th WTO Ministerial Conference is a four-day meeting that will address key issues such as the TRIPS waiver for COVID-19 vaccines, pandemic response, fishery subsidies, agriculture, food security, and WTO reform.
• WTO Director-General Ngozi Okonjo-Iweala emphasized the need for global cooperation to overcome multiple crises, including the pandemic, food shortages, climate change, and regional conflicts.
• China's Commerce Minister Wang Wentao underscored the importance of the WTO-centered multilateral trading system and China's commitment to supporting its reform.
• The MC12 meeting is attended by trade ministers and senior officials from the WTO's 164 member countries.
• Kazakhstan was originally scheduled to host the MC12 in June 2020 but was postponed due to the pandemic.

Statistics:

• 164 countries are represented at the 12th WTO Ministerial Conference.
• The MC12 meeting is the WTO's highest decision-making body and is held every two years.
• The WTO has made progress on key issues, with draft documents formed on TRIPS waiver, pandemic response, fishery subsidies, agriculture, and food security.

Sources:

1. (NAM NEWS NETWORK, 13 June 2022).

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