ABU DHABI: A high-level WTO conference ended Saturday with a temporary extension of an e-commerce moratorium but no deals on agriculture and fisheries, throwing into doubt the effectiveness of the multilateral trade body.
The outcomes of the World Trade Organisation’s 13th ministerial conference in Abu Dhabi highlighted the sharp divisions between the body´s 164 members amid geopolitical tensions and economic headwinds that are threatening global commerce.
“The WTO needed a good crisis and perhaps this will lead to a realisation that we cannot continue like this,” said a senior European Union official participating in the talks.
Speaking at the closing press conference, the Emirati chair of the so-called MC13 gathering, Thani Al Zeyoudi,
acknowledged the shortcomings. “Despite our best efforts, we failed to agree on some texts which are of great importance to many of our members,” said Al Zeyoudi, who also serves as the UAE’s foreign trade minister.
For her part, WTO Director-General Ngozi Okonjo-Iweala said the talks came up “against an international backdrop marked by greater uncertainty than at any time I can remember”.
“We have achieved some important things and we have not managed to complete others,” she said, while insisting that the “glass was half full”.
The WTO, the only international body dealing with the rules of trade between nations, requires full consensus from all members to chalk up deals.
It was hoping the MC13 would replicate the landmark success of its 2022 ministerial in Geneva, which yielded a deal on fisheries and saw members agree to restore a now-defunct dispute settlement system by the end of this year.
But the latest ministerial fell short of that objective.
“The unexpected weakness of the overall (MC13) package should… serve as a wake-up call,” the secretary general of the International Chamber of Commerce, John Denton, said in a statement. – AFP
