By Hansa Sinha
The Tenth Ministerial Conference was held at Nairobi this year from 15th to 19th December. The session ending yesterday culminated into the ‘Nairobi Package’. Let’s see which are the 10 things you should know about this conference.
- A Ministerial Conference is the highest decision making body of WTO, which usually meets every two years.
- For the first time an African nation hosted such a meeting.
- The negotiations needed an extra day because some of the BRIC countries blocked the agricultural agenda.
- The Nairobi Package contains a series of six Ministerial Decisions on agriculture, cotton and issues related to least developed countries.
- The Ministerial Decision on Export Competition gives us a commitment to eliminate subsidies on farm exports.
- After 18 long years the deal on Information Technology Agreement was finally concluded. (A 1.3 trillion deal)
- Liberia and Afghanistan’s accession terms to WTO negotiations were concluded. They will both become the members of WTO formally, 30 days after notifying that they have ratified the accession terms agreed to.
- The least developed countries have got their christmas presents in advance in the form of enhanced preferential rules of origin for LDCs and preferential treatment for LDC service providers.
- Afghanistan and Liberia are both least developed countries.
- A commitment to allow developing nations to use special safeguards in order to protect farmers against import surges was reached.
These are the 10 highlights of the 5 day event. India remained largely dissatisfied owing to non-reaffirmation to conclude 14 year old Doha Round Pacts. However, this definitely gives hope that WTO still remains at the helm of global trade affairs. Read more about the Nairobi Package here.
Thank you for reading!