world trade
After the night of negotiations, final round at the WTO conference
World Trade Organization director-general Ngozi Okonjo-Iweala extended the conference by a day to finalize at least one or two agreements. Photo: Martial Trezzini/KEYSTONE/dpa
© dpa-infocom GmbH
The WTO conference has already been extended by a day in order to get at least some agreements. The final round of ministers has now begun.
Ministers worked through the night at the World Trade Organization (WTO) meeting in Geneva in a tug-of-war over groundbreaking new trade agreements.
However, consensus was not in sight in the early hours of the morning, as reported by negotiators. WTO chief Ngozi Okonjo-Iweala extended the conference by a day on Wednesday in order to finalize at least one or two agreements.
Among other things, the dispute is about a temporary lifting of patents on corona vaccines, an end to harmful fisheries subsidies, an extension of the agreement not to levy tariffs in digital trade and a work program for reforms within the organization.
According to information from the American online portal “World Trade Online”, consideration was given to removing controversial passages from the fisheries agreement and adopting at least a partial agreement.
Above all, German industry insists on a reform of the WTO, including provisions on how state-owned companies are to be treated, which countries may claim privileges for developing countries and a restoration of the full dispute settlement mechanism. The appellate body is suspended because the US is blocking the appointment of new appellate judges in protest at the lack of reform.