London Daily

Focus on the big picture.
Sunday, Jul 19, 2026

WTO ministers reach deals on fisheries, food, COVID vaccines

WTO ministers reach deals on fisheries, food, COVID vaccines

After all-night talks, members of the World Trade Organization early Friday reached a string of deals and commitments aimed at protecting stocks of ocean fish, broadening production of COVID-19 vaccines in the developing world, improving food security and reforming a 27-year-old trade body that has been back on its heels in recent years.
WTO Director-General Nzogi Okonjo-Iweala, after a pair of sleepless nights in rugged negotiations, concluded the WTO’s first ministerial conference in 4-1/2 years by trumpeting a new sense of cooperation at a time when the world faces crises like Russia’s war in Ukraine and a once-in-a-century pandemic that has taken millions of lives.

“The package agreements you have reached will make a difference to the lives of people around the world,” said Okonjo-Iweala, landing what she called an “unprecedented package of deliverables” after 15 months in the job. “The outcomes demonstrate that the WTO is in fact capable of responding to emergencies of our time.”

There were tears of joy and hugs exchanged, applause echoed through the WTO’s concrete halls and many ministers broke out into renditions of “Happy Birthday” to celebrate belatedly the Monday birthdays of Okonjo-Iweala and Indian Commerce Minister Piyush Goyal after the deals were finalized.

The agreements could breathe new life into a trade body that faced repeated criticism from the administration of former U.S. President Donald Trump, which accused the WTO of a lack of fairness to the United States, and was caught in a growing U.S. rivalry with China. In recent years, Washington has incapacitated the WTO’s version of an appeals court that rules on international trade disputes.

The WTO operates by consensus, meaning that all its 164 members must agree on its deals — or at least not get in the way. The talks at times took place in backrooms or in side chats because some delegates didn’t want to be in the same space as their counterparts from Russia — as a way to protest President Vladimir Putin’s invasion of Ukraine, which has had fallout far beyond the battlefield, such as on food and fuel prices.

Among the main achievements Friday was an accord, which fell short of early ambitions, to prohibit both support for illegal, unreported and unregulated fishing and for fishing in overtaxed stocks in the world’s oceans. It marked the WTO’s first significant deal since one in 2013 that cut red tape on treatment of goods crossing borders — and arguably one of its most impactful.

“WTO members have for the first time, concluded an agreement with environmental sustainability at its heart,” Okonjo-Iweala said. “This is also about the livelihoods of the 260 million people who depend directly or indirectly on marine fisheries.”

She said the deal takes a first step to curb government subsidies and overcapacity — too many operators — in the fishing industry. But India and some allies won concessions that scrapped an entire chapter from a proposal that could have threatened some types of subsidies favoring small-scale, artisanal fishing.

The fisheries agreement, which focused on subsidies for types of fishing that are unsustainable or illegal, came with a late addition that will limit its validity to four years unless new rules to fight overcapacity and overfishing are addressed. That was a clause sought by some African, Caribbean and Pacific Island countries.

More controversial was an agreement on a watered-down plan to waive intellectual property protections for COVID-19 vaccines, which ran afoul of advocacy groups that say it did not go far enough — and could even do more harm than good.

But Okonjo-Iweala said the waiver of intellectual property protections “will contribute to ongoing efforts to concentrate and diversify vaccine manufacturing capacity so that a crisis in one region does not leave others cut off.”

U.S. Trade Representative Katherine Tai hailed a “concrete and meaningful outcome to get more safe and effective vaccines to those who need it most.”

Her announcement a year ago that the U.S. would break with many other developed countries with strong pharmaceutical industries to work toward a waiver of WTO rules on COVID-19 vaccines served as an impetus to talks around a broader waiver sought by India and South Africa.

But some advocacy groups were seething. Aid group Doctors Without Borders called it a “devastating global failure for people’s health worldwide” that the agreement stopped short of including other tools to fight COVID-19, including treatments and tests.

“The conduct of rich countries at the WTO has been utterly shameful,” said Max Lawson, co-chair of the People’s Vaccine Alliance and head of inequality policy at Oxfam.

He said the European Union, United States, Britain and Switzerland blocked a stronger text.

“This so-called compromise largely reiterates developing countries’ existing rights to override patents in certain circumstances,” Lawson said.

Big pharmaceutical companies weren’t happy that the vaccine waiver was approved, arguing that it sends a negative message to researchers and innovators who developed COVID-19 vaccines with blistering speed.

“The decision is a disservice to the scientists that left no stone unturned and undermines manufacturing partnerships on every continent,” said Thomas Cueni, director-general of the International Federation of Pharmaceutical Manufacturers and Associations.

Goyal, the Indian minister whose tough negotiating stance had frustrated some developed countries, said the ministerial meeting was a “big boost for multilateralism” and showed progress on issues — like fisheries — that have been lagging for decades.

“India is 100% satisfied with the outcome,” he told reporters in Geneva. “I am not returning to India with any worries.”

Ministers also agreed to avoid imposing some export restrictions that have weighed on the U.N.’s World Food Program, which is trying to offset the impact of rising food prices and fallout from the war in Ukraine on shipments of wheat, barely and other food staples from the key producing country.
Newsletter

Related Articles

0:00
0:00
Close
Germany’s Economic Malaise Reopens the Sunday Shopping Debate
Singapore Considers Lower Taxes for Fund Managers as Hong Kong Intensifies Talent Contest
US Retaliates Against Iran After Two American Troops Killed in Jordan
Bank of Asia BVI Enters Court-Supervised Liquidation After Regulators Find It Insolvent
Proposed U.S.-Saudi Nuclear Pact Could Permit Limited Uranium Enrichment Under International Safeguards
Netherlands Declares Water Shortage Emergency After Drought Pushes Rivers to Historic Lows
Iran Claims It Destroyed Bahrain’s Main Artificial Intelligence Center in Missile and Drone Strike
Brothers Andrew and Tristan Tate Who Turned "Toxic Masculinity" Into a Brand Arrested in Miami as Britain Seeks Their Extradition
Reported CIA Mission Helped Clear the UAE’s Path to Advanced US AI Chips
Artificial Intelligence Capital Fuels Markets While Governments and Regulators Face Mounting Strategic Tests
China’s Moonshot’s Kimi K3 Narrows the Gap With Anthropic Through Scale, Openness and Lower Cost
Gold and Cash Seizure Puts Indonesia’s Senior Anti-Corruption Prosecutor Under Investigation
The Ledger Will Not Trust on Faith
Bank of England Warns Climate Shocks Could Trigger Sudden Asset Repricing
UK Treasury Places Microsoft, Google, AWS and Oracle Under New Financial Resilience Rules
Scottish Government Faces Pressure Over Delays in Vulnerable Group Background Checks
Crown Prosecution Service Authorises Additional Charges Against Andrew and Tristan Tate
NHS Approves At-Home Cancer Treatments for Rare Blood Disorders
Bank of England Gains Oversight of Major Cloud Providers Supporting UK Financial System
UK Government Plans Major Overhaul of English Local Councils Through New Unitary Authorities
British Steel Nationalisation Dispute Escalates as Chinese Owner Jingye Seeks Compensation
Bank of England Signals Interest Rates Will Stay High as It Warns of Financial Risks From Climate and AI
Trump Administration Pressures Banks to Restrict Financial Access for Undocumented Immigrants
Passenger Bound for Germany Refused to Sit Beside a Woman on a Plane — Then Slapped a Flight Attendant
Ukraine’s Leadership Rift Spills Into the Streets as Protesters Target Army Chief
Ukrainian Drone Barrage Kills Eight and Strikes Russian Logistics Network
Key Trends to Watch
Financial Conduct Authority Warns Cloud and Digital Risks Are Becoming a Financial Priority
Jeffrey Donaldson Appeals Sexual Abuse Conviction as Democratic Unionist Party Opens Review
Welsh Health Authorities Launch Emergency Meningitis Vaccination Programme for Students
Scottish Business Activity Falls for Third Month as Companies Face Rising Costs
Bank of England Regulators Demand Better Access to Digital Banking Services
United Kingdom Cuts Bilateral Aid to Several African Countries by Up to Ninety Per Cent
United Kingdom Introduces Tougher Deportation Rules After Rochdale Exploitation Scandal
NHS England Launches Wearable Technology Plan to Reduce Sepsis Deaths
Amazon Web Services Billing Error Sends Trillion-Dollar Invoices to British Companies
Bank of England Takes Direct Regulatory Role Over Major Global Cloud Providers
Extreme Summer Heat Drives Record Fire Risk and Rising Deaths Across Britain
United Kingdom Nationalisation of British Steel Sparks Diplomatic Dispute With China
United Kingdom Economy Shows Weak Growth Ahead of Major Autumn Budget
Andy Burnham Set to Become United Kingdom Prime Minister After Labour Leadership Victory
The Ten World Cup Finals That Defined Football History
Smartphones Are Getting More Expensive, Sales Are Collapsing, and Even Apple Admits: "Prices Will Rise"
The Monaco Bombing Has Become a Test of Ukraine’s Intelligence Accountability
Leadership Change and Strategic Rivalry Redraw the Political Map
Energy Risk, Uneven Growth and the New Geography of Global Capital
The AI Race Enters Its Infrastructure Era
Security and resilience remain long-term national priorities
Britain balances growth ambitions with public finance pressures
Regional devolution becomes a defining theme of the next Labour era
×