WTO Ministerial Conference

WTO Ministerial Conference

Subject – IR

Context – WTO chief to meet Sitharaman, Goyal toiron out differences ahead of meet

Concept –

• The topmost decision-making body of the WTO is the Ministerial Conference, which usually meets every two years.
• It brings together all members of the WTO, all of which are countries or customs unions.
• The Ministerial Conference can take decisions on all matters under any of the multilateral trade agreements.

Twelfth WTO Ministerial Conference

• The 12th Ministerial Conference (MC12) will take place from 30 November to 3 December 2021 in Geneva, Switzerland.
• MC12 was originally scheduled to take place from 8 to 11 June 2020 in Kazakhstan’s capital, Nur-Sultan, but was postponed due to the COVID-19 pandemic.
• The Conference will be chaired by Kazakhstan’s Minister of Trade and Integration, BakhytSultanov, as approved by WTO members in December 2019.

The World Trade Organization (WTO)

• It is the only global international organization dealing with the rules of trade between nations.
• It came into existence on January 1, 1995 and has its headquarters in Geneva, Switzerland.
• All major decisions are made by the WTO’s member governments, either by ministers (who usually meet at least every two years) or by their ambassadors or delegates (who meet regularly in Geneva).