WTO members secure unprecedented package of trade outcomes at MC12.

KEY POINTS:

• WTO members concluded the 12th Ministerial Conference (MC12) in Geneva, securing multilaterally negotiated outcomes on a series of key trade initiatives.
• The “Geneva Package” confirms the historical importance of the multilateral trading system and underlines the important role of the WTO in addressing the world’s most pressing issues, especially at a time when global solutions are critical.

The package adopted by members includes:

• A package on WTO response to emergencies, comprising:
  • Ministerial Declaration on the Emergency Response to Food Insecurity.
  • Ministerial Decision on World Food Programme (WFP) Food Purchases Exemptions from Export Prohibitions or Restrictions.
  • Ministerial Declaration on the WTO Response to the COVID-19 Pandemic and Preparedness for Future Pandemics.
  • Ministerial Decision on the Agreement on Trade-related Aspects of Intellectual Property Rights.
• A Decision on the E-commerce Moratorium and Work Programme.
• An Agreement on Fisheries Subsidies.
• In addition, ministers adopted two decisions – on the Work Programme on Small Economies and on the TRIPS non-violation and situation complaints— and a Sanitary and Phytosanitary Declaration for the Twelfth WTO Ministerial Conference.