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WTO must prioritise food security -Prachi Singhal

-The Financial Express

The 12th Ministerial Conference must deliver a permanent solution on public stockholding for ensuring food security of millions reeling under Covid-induced poverty

The work for the 12th Ministerial Conference (MC 12) of the World Trade Organization (WTO) —to be held in Geneva, from November 30 to December 3—that had been delayed by the Covid-19 pandemic has gained momentum since the joining of the new director general of the WTO, Okonjo Iweala Ngozi, in March 2021. Given the large divergence in the interests of different WTO member groups, Iweala has a tough task ahead, of bringing the key members on the negotiating table together to ensure a meaningful outcome at the MC 12.

In the recently-concluded 47th session of the Steering Committee of the Parliamentary Conference of the WTO, she emphasised on the importance of the WTO and global trade in mitigating the impact of the pandemic. She pointed out that Covid-19 vaccination is the best, even only, stimulus plan any country can come up with to fight the pandemic. She further acknowledged the significance of the TRIPS waiver proposal, led by India and South Africa, for augmenting the global vaccine supply and access, crucial for saving lives across the world.

Since the time she took over, Iweala has been actively engaging with members and groups at the WTO for identifying possible deliverables at the MC-12. First among these deliverables is the conclusion of the fisheries-subsidies negotiations, preferably by July of this year. The fisheries-subsidies negotiations have been underway for the past 20 years, and their conclusion is important to secure livelihoods of millions of people engaged therein.

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