Introduction: Creating context and unveiling crucial issues

Martin Piñeiro and Valeria Piñeiro

Chapter 1 in Navigating the trade landscape: A Latin American perspective building on the WTO 13th ministerial conference, 2024-08-19, pp p. 5-10 from International Food Policy Research Institute (IFPRI)

Abstract: The World Trade Organization’s (WTO) 12th Ministerial Conference (MC12) was held in June 2022 in Geneva, Switzerland, after a year-long delay due to COVID-19-related travel restrictions and other disruptions. The same year, a new wave of export restrictions and trade disruptions resulted from Russia’s invasion of Ukraine earlier that year, adding to the disruptions brought on by the pandemic. In many ways, these events were the beginning of geopolitical changes that have now led to a profound transformation in the structure of production and trade, including a growing tendency toward protectionism. MC13 took place in Abu Dhabi, United Arab Emirates, in February 2024. Little progress was made in general, but especially in relation to agricultural trade. With respect to the latter, the main discussion centered on reducing trade-distorting agricultural subsidies to ensure fair competition, improving market access for developing countries by lowering tariff and nontariff barriers, addressing export restrictions to ensure stable supplies during food crises, and providing flexibility and support to developing countries through special and differential treatment. Additionally, strategies were discussed to enhance global food security amid challenges such as climate change and conflicts, aiming to create a more equitable and sustainable global agricultural trading system. However, positive outcomes from these discussions were few and not very significant.

Keywords: agriculture; economics; markets; WTO; Latin America and the Caribbean (search for similar items in EconPapers)
Date: 2024-08-19
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