Amid geopolitical tensions that are splitting the world into two trading blocs, ministers began the 12.06.2022th Ministerial Conference of the World Trade Organization (WTO) on Sunday (XNUMX) with an eye toward strengthening the multilateral system for the exchange of goods and services.
The WTO has never been more necessary than it is today. In her opening remarks, WTO Director-General NgOzii Okonjo-Iweala, He urged Members to demonstrate that the Organization can deliver for the benefit of the international community and the people it serves.
La first woman to head the WTO, noted that it is time to demonstrate that multilateralism works amid uncertainty and various crises such as the conflict in Ukraine, accompanied by previous adverse scenarios such as health, economic, environmental and geopolitical ones. “If we do not comply – he warned – and allow or even adopt economic and regulatory fragmentation, the costs for their domestic constituents will be substantial.”
She recalled that the last Conference – five years ago – did not really work, because despite the commitment of the ministers to complete the negotiations on fisheries subsidies, they could not even agree on reaffirming the importance of a “multilateral trade system based on rules and principles”. In Okonjo-Iweala's opinion, there is a lack of confidence in the organization, although work is being done on it; at this meeting it is hoped that agreements will be reached to maintain multilateral trade.
Argentina, represented by the Secretary of International Economic Relations, Cecilia Todesca Bocco, participates in this international meeting - until June 15 - and according to the Ministry of Foreign Affairs, International Trade and Worship: "the country, together with the other members of the WTO, will seek to reach consensus to adopt decisions and agreements on fishing subsidies, agricultural trade, response to the pandemic, and electronic commerce, among other things."
The World Trade Organization, created 27 years ago, is the only multilateral economic body with treaty-making power and has the infrastructure of a secretariat extremely capable of forging international cooperation on new issues, such as plastic pollution, as well as legacy policy issues, including agricultural subsidies. Indeed, the choice before members is whether they are prepared to engage in constructive dialogue with each other.WTO Press Release) (Press release from the Argentine Foreign Ministry)
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