AsiaOne on Nostr: Rocky start set WTO talks up for minimal results ========== The World Trade ...
Rocky start set WTO talks up for minimal results
==========
The World Trade Organisation's biennial gathering of ministers started with warning signs that major trading nations were not in a mood for compromise. WTO Director-General Ngozi Okonjo Iweala had curbed expectations due to wars, tensions, and limited room for manoeuvre. Indian Commerce Minister Piyush Goyal arrived late, and Norwegian Foreign Minister Espen Barth Eide's attempt to broker a compromise on trade dispute resolution was rebuffed by US Trade Representative Katherine Tai. The WTO toasted the accessions of East Timor and Comoros, but the near 30-year-old organization has only struck two multilateral accords. A multi-nation agreement to boost investment in poorer countries was blocked, and language on climate change was parked in an annex due to "deep divergences" among members. The talks ended with trade chiefs from the European Union, India, and other countries battling through to the close. The overall impasse was seen as sobering and not good for the future of trade, with power relations overshadowing the rule of law.
#Wto #Trade #Compromise #TradeDisputes #GlobalTrade
https://www.asiaone.com/world/rocky-start-set-wto-talks-minimal-results
==========
The World Trade Organisation's biennial gathering of ministers started with warning signs that major trading nations were not in a mood for compromise. WTO Director-General Ngozi Okonjo Iweala had curbed expectations due to wars, tensions, and limited room for manoeuvre. Indian Commerce Minister Piyush Goyal arrived late, and Norwegian Foreign Minister Espen Barth Eide's attempt to broker a compromise on trade dispute resolution was rebuffed by US Trade Representative Katherine Tai. The WTO toasted the accessions of East Timor and Comoros, but the near 30-year-old organization has only struck two multilateral accords. A multi-nation agreement to boost investment in poorer countries was blocked, and language on climate change was parked in an annex due to "deep divergences" among members. The talks ended with trade chiefs from the European Union, India, and other countries battling through to the close. The overall impasse was seen as sobering and not good for the future of trade, with power relations overshadowing the rule of law.
#Wto #Trade #Compromise #TradeDisputes #GlobalTrade
https://www.asiaone.com/world/rocky-start-set-wto-talks-minimal-results