By using this site, you agree to the Privacy Policy and Terms of Use.
Accept
Magadh Today - Beyond HeadlinesMagadh Today - Beyond HeadlinesMagadh Today - Beyond Headlines
  • Home
  • India
  • Editorial
  • Opinion
  • Global
  • Technology
  • Science
  • Asia
  • Business
  • Finance
Reading: WTO braces for battles on fisheries, agriculture in UAE talks
Share
Notification Show More
Aa
Magadh Today - Beyond HeadlinesMagadh Today - Beyond Headlines
Aa
  • India
  • Economy
  • Politics
  • Business
  • Technology
  • Finance
  • Editorial
  • Opinion
  • Science
  • Home
  • Technology
  • Business
  • Economy
  • Politics
  • Science
  • Sitemap
Have an existing account? Sign In
Follow US
  • Advertise
© 2022 Foxiz News Network. Ruby Design Company. All Rights Reserved.
Magadh Today - Beyond Headlines > Latest News > Business > WTO braces for battles on fisheries, agriculture in UAE talks
Business

WTO braces for battles on fisheries, agriculture in UAE talks

Gulshan Kumar
Last updated: 2024/02/27 at 1:42 PM
By Gulshan Kumar 1 year ago
Share
SHARE

The world’s trade ministers are set for tough negotiations on Tuesday at a World Trade Organisation (WTO) meeting in Abu Dhabi, with fisheries and agriculture taking centre stage.

The closed talks will take place on the second day of the WTO’s 13th ministerial conference which is scheduled to run until Thursday but could go into over-time amid divisions.

There is little hope for major breakthroughs with WTO rules requiring full consensus among all 164 member states.

But progress could be made on a new global agreement on fisheries subsidies.

After a 2022 deal which banned subsidies contributing to illegal, undeclared and unregulated fishing, the WTO hopes to conclude a second package focusing on subsidies which fuel overcapacity and overfishing.

“We’re close. It’s doable for sure,” said a diplomatic source.

“The final push needs a little bit of compromise, a little bit of political will,” the source told AFP on condition of anonymity, calling a potential agreement a “very good outcome”.

The 2022 agreement has yet to take effect as not enough countries have ratified it.

But it was seen as a major achievement, marking just the second accord concluded by the WTO’s full membership since the global trade body was created in 1995, and the first focused on environmental protection.

‘Sensitive issues’

Negotiations in recent months at the WTO headquarters in Geneva have enabled a draft text to be brought forward for a second fisheries deal.

The draft provides for a ban on subsidies that promote overfishing and overcapacity, unless they fall within the framework of a fishery resource management mechanism based on sustainability criteria.

The text would essentially divide member countries into three groups, with the largest subsidy providers subject to greater scrutiny.

It provides flexibilities and advantages for developing countries.

But some — notably India — are demanding concessions, including transition periods that others consider too long.

“We have some sensitive issues, some discussions to have, particularly with India and with certain countries, but we are relatively confident in our abilities to finally seal this agreement,” said a French diplomatic source.

Some non-government organisations (NGOs), meanwhile, are concerned that too much leniency could compromise the outcome.

A “clear prohibition with fewer exemptions probably would be the best” approach, said Ernesto Fernandez Monge of the Pew Charitable Trusts, a nongovernment organisation that seeks to improve public policy.

But “we believe that it’s important to have an agreement than no agreement,” he told AFP.

Agriculture

Unlike other WTO agreements which aim to lift trade barriers or counter trade distortions, the draft text — just like the 2022 agreement — forms part of the United Nations’ sustainable development goals.

“It would be good if we can conclude that second” package, a WTO trade delegate told AFP on condition of anonymity.

But the long transition periods demanded by some states such as India is a major sticking point, the delegate said.

While a fisheries deal is largely seen as the only viable outcome of the full WTO conference (MC13), agriculture will also be a hot topic of debate.

Many member states want action on domestic measures that distort trade.

Discussions revolve around issues including market access and export competition and restrictions.

Food security will again be on the agenda, with deep disagreement over a demand from India and others for a permanent solution for public stockholding of food instead of temporary measures.

“Given the centrality of the issue this week I implore you to deliver an agriculture outcome at MC13, even if it is setting the platform to do later a more solid work going forward,” WTO Director General Ngozi Okonjo-Iweala said on Monday.

Edwini Kessie, WTO’s director of agriculture and commodities, acknowledged that there is no “convergence” on an agriculture agreement.

“Clearly the most difficult issue is public stockholding,” he said. “It is not easy.”

By AFP

You Might Also Like

Global tech outage eases after widespread disruption, new focus seen on risks

Byju’s Business Case Study: A Company That Went From Zero-To-Billion-To-Zero

Explainer: What caused Microsoft outage, Windows blue screens ?

Massive tech outage affects air traffic, communication worldwide

India set to lose 4,300 millionaires this year: where are they headed and why?

Share This Article
Facebook Twitter Whatsapp Whatsapp LinkedIn Reddit Telegram Copy Link Print
Previous Article Paris holds its breath for Olympic swimming events in murky seine
Next Article Alibaba’s South Asian e-commerce gaint Daraz announces layoffs in memo
about us

Your daily dose of news and updates on politics, culture, and events around the globe. Stay informed, stay connected!

Quick Links

  • Home
  • Sitemap
  • Contact
  • About
  • Privacy Policy
  • Terms and Conditions
Magadh Today - Beyond HeadlinesMagadh Today - Beyond Headlines
© Magadh Today Network. All Rights Reserved.
Go to mobile version
adbanner
AdBlock Detected
Our site is an advertising supported site. Please whitelist to support our site.
Okay, I'll Whitelist
Welcome Back!

Sign in to your account

Lost your password?