WTO reaches consensus on landmark package of trade

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(VOVWORLD) - The World Trade Organization on Friday produced the “Geneva Package”, which contains a series of unprecedented decisions on fisheries subsidies, WTO response to emergencies, including a waiver of certain requirements concerning compulsory licensing for COVID-19 vaccines, food safety and agriculture, and WTO reform.
WTO reaches consensus on landmark package of trade - ảnh 1WTO Director-General Ngozi Okonjo-Iweala (second, left) and other officials at the closing session of WTO ministerial conference  in Geneva on June 17, 2022.
(Photo: AFP/VNA)

The talks at the global trade body’s Geneva headquarters began last Sunday but went straight through into Friday instead of Wednesday. The fisheries deal was the last agreement to get over the line.

The package agreements will make a difference to the lives of people around the world, said WTO Director-General Nzogi Okonjo-Iweala, adding that the outcomes demonstrate that the WTO is in fact capable of responding to emergencies of the time.

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