Events

Reviving the multilateral trading system

Peter Mandelson, Chairman of Global Counsel and former European Commissioner for Trade, was joined by Dr Ngozi Okonjo-Iweala, Director General of the World Trade Organization (WTO). 

Highlights from the discussion:

  • The pandemic’s impact on trade: the WTO DG pointed to the positive role that international trade has played during the pandemic, including a 50% growth of trade value in critical medical supply and personal protective equipment. However, the speakers also acknowledged the negative impact of tools such as export restrictions that have proliferated during the pandemic.
     
  • A new framework for Trade and Health: progress is most likely to be made on trade facilitation and the limitation of export restrictions in the discussions led by Ambassador David Walker at the WTO. The WTO DG expects a strong ministerial statement on this at the upcoming Ministerial Conference (MC12) but noted that there was no such thing as ‘low-hanging fruit’.
     
  • The WTO as a forum to resolve trade disputes: continued use of panels to resolve disputes shows that the dispute settlement function is in operation. The US’ concerns about the mechanism are understandable, but there is openness to work on this issue. Besides these concerns, the current crisis is a good opportunity to make the mechanism more accessible to developing countries. MC12 will hopefully provide a process to reform the dispute settlement mechanism.
     
  • A level playing field for subsidies and competition: current subsidies rules do not reflect modern-day development models. Understanding the trade-distorting impact of subsidies, including agriculture and industrial subsidies, on international trade and competition is an important first step, which WTO is working with the World Bank, the IMF and the OECD to explore. It is worth noting that policy interventions on these issues have increased since the pandemic.
     
  • Measuring the success of MC12: a successful ministerial conference will include a ministerial declaration that captures progress on service domestic regulation, e-commerce, women and trade, investment facilitation, and Small and Medium-sized Enterprises (MSMEs). In addition, fisheries subsidies, trade and health, and agriculture will be priorities for the WTO DG. Expectation management remains key – reaching an agreement on two or three of these topics will be considered a success.
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Rare Diseases Forum 2024: Securing Europe's competitiveness in R&D for people living with rare diseases

Details:

Featuring keynotes and panel discussions with a focus on the EU's role in enhancing competitiveness in life sciences, fostering investment in the rare diseases sector, and examining the benefits of a competitive agenda for those with rare diseases. 

The event is convened by Global Counsel on behalf of the forum partners, EURORDIS, RaDiOrg, EFPIA, Eucope, EuropaBio, Pharma.be, UCB, Novo Nordisk, Sanofi & Takeda.

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