GENEVA: 164 members of the World Trade Organization on Friday agreed to the first changes in years to global trade rules, including “unprecedented” commitments on fish and pledges on health and food security after five days of grueling talks.
The deals were forged in the early hours of the sixth day of a conference of more than 100 trade ministers, which was seen as a test of the nations’ ability to strike multilateral trade deals amid heightened geopolitical tensions from the Ukraine war.
Delegates, who had anticipated the four-day conference, rejoiced after passing seven agreements and declarations just before dawn on Friday.
The package, which the WTO chief called “unprecedented”, included two of the highest-profile deals – a partial waiver of intellectual property (IP) rights on fisheries and for COVID-19 vaccines.
Developing countries would be allowed to authorize the use of a patent for production and supply without the patent holder’s consent for five years, subject to a possible extension. Production should not be primarily for the domestic market, meaning more exports are allowed to ensure equal access.
The global body also sought to respond to the food supply and price rise crisis caused by disruptions in exports from major grain producers Ukraine and Russia.
India and South Africa and other developing countries have sought exemptions in intellectual property rights for COVID-19 vaccines, treatments and diagnostics for more than a year, but have faced opposition from major drug producers as well as several developed countries. Had to do
WTO members agreed in a declaration that they would take concrete steps to facilitate trade in food and agriculture, including grain, fertilizers and other agricultural inputs, and reaffirmed the importance of limiting export restrictions. Members also agreed on the binding decision of the World Food Program not to curb exports.
Published in Dawn, June 18, 2022