Trade ministers from around the globe convened today in Abu Dhabi for the 13th Ministerial Conference (MC13) of the World Trade Organization (WTO). The conference, running until February 29, aims to address pressing issues in global trade, but prospects for significant breakthroughs remain uncertain amidst geopolitical tensions and profound disagreements among member states.
"Politically it's quite a tough time," Ngozi Okonjo-Iweala told reporters before the meeting, referring to wars, tensions, and upcoming elections. "(But) I'm hopeful we will still be able to pull out some of the deliverables."
While a deal among some 160 ministers on getting important internal reforms is plagued with obstacles, negotiators are still hoping for an agreement that could buoy global fish stocks and protect fishermen by banning government subsidies.
"We are not in dreamland here. International cooperation is in bad shape. Real success would be fish, plus two or three things," one trade delegate told Reuters.
Other outcomes from the four-day meeting that are either definite or achievable are the accession of two new members - Comoros and East Timor - and a deal among some 120 countries to remove development-hampering investment barriers.
Tougher areas include extending a 25-year moratorium on applying tariffs on digital trade, which South Africa and India oppose, and an agreement on agriculture trade rules that has eluded negotiators for decades.
Thani Al Zeyoudi, UAE trade minister and conference chair, said that trade and sustainability would be on the agenda as part of an effort to ensure the body's future relevance.
"The next generation will not have the same trade ecosystem that we have nowadays, and we don't want the organization to be outdated when the next generation is running the trade dossier," he told Reuters.
Despite these challenges, there is a sense of urgency to address critical issues. The previous ministerial meeting in 2022 yielded historic agreements, including a ban on harmful fisheries subsidies and a temporary patent waiver for COVID-19 vaccines. However, replicating such success is deemed extremely challenging.
European Trade Commissioner Valdis Dombrovskis emphasized the importance of negotiations on significant issues such as fisheries, agriculture, and e-commerce, which will remain open until the final phase of the conference.
The looming U.S. presidential elections add further pressure on the WTO to make progress on reform. Diplomatic sources suggest that the current meeting represents the last opportunity before the elections, highlighting the need to address longstanding issues.
Challenges persist, with concerns over opposition from certain members hindering the integration of agreements into the WTO framework. Additionally, the ongoing war in Gaza and related attacks in the Red Sea have disrupted global maritime trade, adding to the complexity of discussions.
"WTO conference faces a daunting task amid geopolitical tensions and economic uncertainties, while hopes for significant breakthroughs remain subdued, there is a collective effort to advance global trade and address pressing challenges" the director affirmed.
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