World Trade Organization meeting concludes with a result
Ministers of the World Trade Organization (WTO) reach historic agreements on food insecurity, food purchases exemption, WTO response to pandemic, TRIPS, e-commerce moratorium, and fisheries subsidies.
After two nights of intense negotiations, members of the World Trade Organization (WTO) are on track to announce a package of measures, including a response to Covid and steps to rein in harmful fishing subsidies.
After a nine-year hiatus, WTO members reached an agreement on fisheries subsidies.
The proposed pact addresses overfishing, deep sea fishing, and illegal, unreported, and unregulated (IUU) fishing for the first time.
It was also agreed that the next WTO ministerial conference would find a final solution to the issue of the continuation of the moratorium on imposing customs duties on electronic transmission of goods.