World Trade Organization members faced a tense last day of discussions, with little guarantee of reaching an agreement on any modification to global trade rules on Wednesday. India was insistent that it would not compromise on food, fisheries, and vaccines.
WTO Director-General Ngozi Okonjo-Iweala cautioned the more than 100 ministers in attendance that time was running out and that they needed to “go the extra mile” to reach an agreement on a wide range of concerns. “It requires that we work harder and work nights, whatever it takes to be able to do it. The good news is that progress is being made but it needs a little more work and more time,” said Okonjo-Iweala. “The not-so-good news is that we are running out of time, so I think it is really time for ministers to make the requisite decisions that need to be made.”
Delegates at the summit said India, which has a history of obstructing multilateral trade treaties, looked unwilling to compromise. That viewpoint was bolstered by statements made in closed sessions by Indian Commerce Minister Piyush Goyal.
The 164-member group is seeking agreement on a response to the COVID-19 pandemic, a decrease in fishing subsidies, food security promises, and the commencement of an internal reform during its June 12-15 ministerial conference. This is WTO’s first major gathering in almost four years.
For more than a year, India, South Africa, and other developing countries have requested a waiver of intellectual property rights for vaccinations, treatments, and diagnostics, but have been met with opposition from many rich countries that are significant pharmaceutical producers. A temporary agreement reached in May by major parties – India, South Africa, the United States, and the European Union – sparked condemnation from campaign organizations as falling short of what is required.
The WTO has also pushed hard for a global agreement to reduce fishing subsidies, which would be only the second multilateral agreement in its 27-year history and a demonstration of its relevance in an era of rising trade tensions.
