WTO MC13: Abu Dhabi meet ends with no consensus on agri, fisheries | Economy & Policy News

Despite intense negotiations over five days, the 13th Ministerial Conference (MC13) of the World Trade Organization (WTO) ended without consensus on some of the key issues.

Divergences remained on curbing subsidies that result in overcapacity and overfishing, as well as the issue of public stockholding (PSH) for food security–which was the foremost priority for India.

“We have worked hard this week. We have achieved some important things and we have not managed to complete others. Nevertheless, we moved those pieces of work in an important way. At the same time, we have delivered some milestone achievements for the WTO and laid the groundwork for more,” said WTO Director General (DG) Ngozi Okonjo-Iweala.

The conference that kicked off on Monday was scheduled to end on February 29. However, the conference was extended by more than a day to push trade ministers to come up with an outcome.

As far as the negotiations on fisheries subsidies are concerned, member nations were able to narrow some outstanding gaps. “While I had hoped that we could finish these negotiations in Abu Dhabi, you have prepared the ground for its conclusion at the next Ministerial Conference, if not earlier. The livelihoods of 260 million people who depend directly or indirectly on marine fisheries are at stake,” the DG said.

With countries such as India pushing for a two-tier dispute settlement system, the ministerial meeting ended with countries deciding to have a fully and well-functioning dispute settlement system accessible to all members by the end of 2024.

As many as 123 member nations saw finalisation of the China-led  Investment Facilitation for Development (IFD) Agreement. However, countries like India along with South Africa objected to the pact, stating that the agenda is out of the WTO mandate.

The WTO also got two new members, Comoros and Timor-Leste.

First Published: Mar 02 2024 | 11:27 AM IST