WTO's 12th Ministerial Conference Opens with Focus on COVID-19 Vaccines, Global Crises

Strategic Insights -

WTO Director-General Ngozi Okonjo-Iweala emphasized the need for international cooperation to address global crises, including the COVID-19 pandemic, food shortages, climate change, and regional conflicts. She stated that the world is facing multiple challenges and that no single country can solve them alone. Okonjo-Iweala highlighted the progress made by the WTO on issues such as TRIPS waiver, pandemic response, fishery subsidies, agriculture, and food security, and expressed hope for achieving more results at the ministerial meeting. China's Commerce Minister Wang Wentao reiterated China's commitment to the WTO-centered multilateral trading system and its willingness to work with all parties to promote the organization's role in global economic recovery.

Key Takeaways:

  • The WTO's 12th Ministerial Conference (MC12) opened at WTO headquarters in Geneva, Switzerland, with discussions on key issues such as TRIPS waiver for COVID-19 vaccines, pandemic response, fishery subsidies, agriculture, food security, and WTO reform.
  • WTO Director-General Ngozi Okonjo-Iweala called on countries to work together to address global crises, including the COVID-19 pandemic, food shortages, climate change, and regional conflicts.
  • China's Commerce Minister Wang Wentao stated that China is willing to work with all parties to promote the WTO's role in global economic recovery and safeguard the multilateral trading system.
  • The conference is the WTO's highest decision-making body, attended by trade ministers and senior officials from its 164 member countries.
  • Kazakhstan was originally scheduled to host MC12 in June 2020, but the conference was postponed due to the pandemic.

Statistics:

  • The WTO has 164 member countries.
  • The MC12 conference is held every two years.
  • China is one of the largest economies in the world and a key player in international trade.
  • The WTO has been working on issues such as TRIPS waiver, pandemic response, fishery subsidies, agriculture, and food security.

Sources:

  • MIL OSI China News (http://milnz.co.nz/mil-osi-aggregation/) - Copyright 2022 Multimedia Investments Ltd, distributed by Contify.com