Why in news?

• On June 17, member countries of the World Trade Organization (WTO) wrapped up the twelfth Ministerial Conference (MC12) securing agreements on relaxing patent regulations to achieve global vaccine equity; ensuring food security, according subsidies to the fisheries sector and continuing moratoriums relevant to e-¬commerce, maong otehrs.
• Together they constitute what WTO’s Director-general Ngozi Okonjo ¬Iweala is referred to as the Geneva Package. India saw some successes at the MC12 with respect to the above mentioned sectors.

About WTO’s Ministerial Conference

• Ministerial Conference takes place once every two years and can take decisions on all matters under any multilateral trade agreement.
• Unlike other organisations, such as the IMF or World Bank, WTO does not delegate power to a board of directors or an organisational chief.
• All decisions at the WTO are made collectively and through consensus among member countries at varied councils and committees.
• This year’s conference took place in Geneva, Switzerland.

Agricultural Debates

• The agreements on the subject are of particular significance to India.
• Referring to its status as a significant contributor to the World Food Programme (WFP), India had earlier stated that it had never imposed export restrictions for procurement under the programme.
• Negotiators agreed that member countries would not impose export prohibitions or restrictions on food-stuffs purchased for humanitarian purposes of the WFP.
• The central premise of the agreements was to ensure availability, accessibility and affordability of food to those in need, especially in humanitarian emergencies.

No Consensus on Fisheries Related Agreements

• India successfully managed to carve out an agreement on eliminating subsidies to those engaged in illegal, unreported and unregulated fishing.
• The only exception for continuing subsidies for overfished stock is when they are deemed essential to rebuild them to a biologically sustainable level.
• Further, the agreements hold that there would be no limitation on subsidies granted or maintained by developing or least developed countries for fishing within their exclusive economic zones (EEZ).

Moratoriums on Electronic Transmissions (ET)

• Member countries agreed to extend the current moratorium on not imposing customs duties on electronic transmission (ET) until MC13 that is scheduled to take place in December 2023.
• 105 countries which includes the U.S., the U.K., Australia, China and Japan among others, had sought an extension of the moratorium, while India and South Africa being in opposition.
• Broadly, ETs consist of online deliveries such as music, e-books, films, software and video games.
• Customs duties provide the necessary capital infusion for capacity building and in turn, attempt to address the digital divide particularly high in low income and developing countries.

Discussions on Patent Relaxations

• Member countries agreed on authorising the use of the subject matter of a patent for producing COVID¬19 vaccines by a member country, without the consent of the rights holder.
• Further, it waives the number of vaccines that can be exported to member countries.
• The agreement, however, comes too little, too late for economically poorer countries because several Lower Developed Countries (LDCs) have suffered in their efforts to combat the now nearly three ¬year ¬old pandemic.
• Within the next six months, members are expected to decide on increasing the scope of the agreement to cover the production and supply of COVID¬19 diagnostics and therapeutics as well.