The first WTO treaty with environmental protection

WTO’s Ministerial Conference 12’ in Geneva was held on June 17, 2022.

background

The World Trade Organization (WTO) is an intergovernmental organization that regulates and facilitates international trade.
The WTO is headquartered in Geneva, Switzerland.
Its top decision-making body is the Ministerial Conference, which is composed of all member states and usually convenes biennially; consensus is emphasized in all decisions.
Governments use the organization to establish, revise, and enforce the rules that govern international trade.
It officially commenced operations on 1 January 1995, pursuant to the 1994 Marrakesh Agreement, thus replacing the General Agreement on Tariffs and Trade (GATT) that had been established in 1948.
The WTO is the world's largest international economic organization, with 164 member states representing over 98% of global trade and global GDP.
The rise of economic nationalism and unilateralism has increased trade friction making the WTO look increasingly irrelevant.

Outcomes of the meeting

Decisions were taken on areas such as agriculture, fishing, intellectual property, e-commerce, and food insecurity — was itself a milestone.

It agreed on limiting government subsidies for harmful fishing operations in an attempt to slow the depletion of rapidly declining fish stocks.
This agreement will aid in curbing food insecurity and increase the sustainability of certain fish species.
Hence, it is the first WTO treaty with environmental protection and sustainability as its objective.

It agreed to co-operate to resolve issues to do with food insecurity.
With Russia’s war on Ukraine driving up food prices, some countries have restricted certain food exports or are subsidizing domestic farmers.

Challenges for WTO

Pushing for tightening the rules on China’s state-owned enterprises and industrial subsidies.
Another issue is support measures adopted during the pandemic. Some governments understandably adopted policies to support domestic businesses in a time of crisis.
Violation of WTO rules by the member countries.

Other Environment based International Treaties