WTO Meet: Key Outcomes and Highlights
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The much-awaited 12th Ministerial Conference of the World Trade Organization took place from 12 to 16 June 2022, resulting in a package of declarations and decisions on a variety of issues.
The Indian government has expressed its satisfaction with the outcome of MC-12 negotiations, having played a key role in pushing negotiations through. India has successfully navigated the issue relating to food security and patent waivers for vaccines and is reported to have been instrumental in pushing through a conclusion on fisheries as well.
Indeed, many are viewing the adoption of concrete decisions on various pertinent issues as a significant turning point for the WTO, which had long been vilified for the paralysis of its negotiating wing. Hopes are now high that the impetus provided by the outcome of MC-12 will continue, resulting in much more concrete decisions to come.
Going forward, India is expected to play a key balancing role between safeguarding that future decisions consider the needs of developing country members on the one hand and ensuring that decisive action is taken where needed, on the other.
This update highlights the key outcomes of MC-12 from the Indian perspective.