Zürcher Nachrichten - WTO reform talks coming to the crunch

EUR -
AED 4.178176
AFN 75.669671
ALL 93.778816
AMD 415.906051
AOA 1043.264169
ARS 1703.272449
AUD 1.632271
AWG 2.047847
AZN 1.945163
BAM 1.955358
BBD 2.292182
BDT 140.37829
BHD 0.429203
BIF 3399.931992
BMD 1.137693
BND 1.469068
BOB 12.638145
BRL 5.783461
BSD 1.138043
BTN 109.838189
BWP 15.720449
BYN 3.264263
BYR 22298.782942
BZD 2.288883
CAD 1.604204
CDF 2571.186241
CHF 0.931286
CLF 0.027333
CLP 1075.766996
CNY 7.704572
CNH 7.704127
COP 3641.777361
CRC 517.883016
CUC 1.137693
CUP 30.148865
CVE 110.240098
CZK 24.160615
DJF 202.654223
DKK 7.479533
DOP 66.275029
DZD 151.767717
EGP 58.438499
ERN 17.065395
ETB 183.686107
FJD 2.56129
FKP 0.853952
GBP 0.854156
GEL 2.986427
GGP 0.853952
GHS 13.23501
GIP 0.853952
GMD 84.189045
GNF 9984.744552
GTQ 8.682039
GYD 238.096217
HKD 8.921959
HNL 30.482114
HRK 7.538694
HTG 148.796388
HUF 361.274524
IDR 20389.734076
ILS 3.465811
IMP 0.853952
INR 109.86417
IQD 1490.86323
IRR 1564327.884519
ISK 143.120641
JEP 0.853952
JMD 180.509225
JOD 0.806636
JPY 186.428038
KES 147.376709
KGS 99.49109
KHR 4601.960466
KMF 493.758517
KRW 1660.474379
KWD 0.352776
KYD 0.948386
KZT 541.10777
LAK 25769.179016
LBP 101911.779213
LKR 382.44361
LRD 205.983471
LSL 19.221958
LTL 3.359312
LVL 0.68818
LYD 7.282355
MAD 10.657593
MDL 20.114456
MGA 5042.860871
MKD 61.561094
MMK 2389.154486
MNT 4088.86456
MOP 9.192623
MRU 45.42174
MUR 53.949593
MVR 17.577593
MWK 1973.35424
MXN 19.892219
MYR 4.654753
MZN 72.697949
NAD 19.221958
NGN 1553.521481
NIO 41.88054
NOK 10.898075
NPR 175.741302
NZD 1.971568
OMR 0.437631
PAB 1.138043
PEN 3.872925
PGK 5.09085
PHP 70.178549
PKR 316.119892
PLN 4.319536
PYG 6880.44578
QAR 4.137265
RON 5.218882
RSD 117.363489
RUB 88.939909
RWF 1676.921201
SAR 4.280572
SBD 9.193817
SCR 15.342886
SDG 683.187191
SEK 11.057126
SGD 1.468364
SLE 27.560575
SOS 650.353092
SRD 42.996262
STD 23547.948257
STN 24.494467
SVC 9.957751
SZL 19.219658
THB 38.345966
TJS 10.498429
TMT 3.981926
TND 3.373238
TRY 53.861229
TTD 7.732253
TWD 36.815448
TZS 3004.421333
UAH 51.001879
UGX 4290.030928
USD 1.137693
UYU 45.699677
UZS 13772.888851
VES 843.37342
VND 29944.079951
VUV 135.013564
WST 3.135846
XAF 655.80886
XAG 0.019524
XAU 0.000281
XCD 3.074672
XCG 2.051037
XDR 0.815616
XOF 655.80886
XPF 119.331742
YER 271.396531
ZAR 19.152129
ZMK 10240.602013
ZMW 21.082238
ZWL 366.336684
  • CMSC

    -0.0650

    21.725

    -0.3%

  • CMSD

    -0.0200

    21.98

    -0.09%

  • JRI

    0.1600

    13.06

    +1.23%

  • BCC

    1.3800

    77.84

    +1.77%

  • RIO

    -0.2900

    91.22

    -0.32%

  • GSK

    0.6100

    51.35

    +1.19%

  • RBGPF

    -0.7300

    66

    -1.11%

  • AZN

    0.9900

    169.26

    +0.58%

  • BCE

    0.0900

    21.3

    +0.42%

  • NGG

    -0.0700

    82.3

    -0.09%

  • RELX

    1.5500

    34.41

    +4.5%

  • VOD

    -0.1000

    15.15

    -0.66%

  • BTI

    1.1200

    60.96

    +1.84%

  • BP

    -0.1100

    43.82

    -0.25%

  • RYCEF

    -0.1900

    18.17

    -1.05%

WTO reform talks coming to the crunch
WTO reform talks coming to the crunch / Photo: - - AFP

WTO reform talks coming to the crunch

The ambassador facilitating talks on reforming the World Trade Organization voiced cautious optimism Friday on prospects for progress at a high-level meeting in the Cameroonian capital.

Text size:

Reforming the beleaguered global trade body is at the heart of the WTO's four-day ministerial conference -- its main decision-taking event that typically takes place every two years.

The 166-member WTO struggles to reach agreements due to the requirement for consensus, prompting questions over its central role in regulating international trade.

Norway's ambassador to the WTO Petter Olberg, who is facilitating the reform talks, is trying to secure agreement on a way through the logjam before talks close Sunday.

But countries have differing views on how ambitious the reform should be and how to implement it.

The United States has previously indicated it would reject the draft text.

Still, Olberg told AFP and Switzerland's Keystone-ATS news agency on Friday that he was "reasonably optimistic".

- 'Like speed-dating' -

Also on the agenda is renewing the moratorium on customs duties on e-commerce, which is due to expire on March 31, and agreements on agriculture and facilitating investment for development.

"I remain really quite optimistic about the potential for progress," British Business and Trade Secretary Peter Kyle told reporters.

"This process is ongoing, and when you're in the rooms upstairs, it's a bit like speed-dating. There's a lot of darting around between rooms."

But trade negotiations have long stalled, and its trade dispute settlement system has been paralysed since 2019 by Washington's refusal to appoint judges to the appeals body.

The US has made no secret of its intent to shake up the multilateral trading system.

"Without them, we can't move forward," confided one delegate from a Southeast Asian country, speaking on condition of anonymity.

"The other members primarily expect the United States to clarify its intentions, and are asking it to demonstrate its continued commitment to the WTO through concrete actions," Sebastien Jean, an associate director at the French Institute of International Relations think-tank, told AFP.

Yaounde marks the WTO's first ministerial conference since US President Donald Trump returned to the White House last year, unleashing attacks on multilateralism and WTO rules with sweeping tariffs and bilateral trade deals.

- 'Outright bullying' -

Ivan Enrile, with Philippine's based NGO IBON International, denounced Washington's seeming desire to "discard even the tiniest pretence of multilateralism, replacing it with coercion, powerplay, and outright bullying".

US Trade Representative Jamieson Greer said Wednesday that Trump's trade policy measures were "a corrective response to a trading system, embodied by the WTO, that has overseen and contributed to severe and sustained imbalances".

Melanie Foley, a deputy director at the US think-tank Public Citizen, said: "Trump attempts to score political points domestically with his chaotic attacks on the global trading system."

Washington has issued two documents, the latest on Monday, on reforming the WTO, contesting some of its fundamental rules.

"The US is setting down an ultimatum, and that ultimatum is that the current global order no longer suits the objectives" of the White House, said Jane Kelsey, a law specialist from the University of Auckland.

T.Gerber--NZN