From 12-17 June, trade ministers gathered in Geneva for the long-awaited 12th WTO Ministerial Conference (MC12) and achieved agreement on a series of reforms after several years of deadlock. These include an intellectual property waiver for covid-19 vaccines, the WTO response to the pandemic, a moratorium on e-commerce duties, and the partial elimination of fisheries subsidies. But will the MC12 outcomes save the WTO from its existential crisis? What will be their long-term impact on the organisation’s dealmaking function?
To discuss all this, GC’s Senior Adviser Tiffany McDonald gives us insight on the politics behind MC12, while trade and manufacturing Associate Yi-Fang Lee provides us with a deep-dive on the TRIPS waiver. They are joined by John Cooke, Co-Chair of the Liberalisation of Trade in Services (LOTIS) Expert Advisory Group at TheCityUK, who sheds light onto MC12’s implications for businesses.
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