Low expectations from the 12th WTO Ministerial Conference

The meet takes place under the shadow of global inflation, supply chain disruptions, lingering pandemic, slowing growth momentum, and the Russia-Ukraine war

The trade ministers of its member countries are meeting this week (June 12-15) in Geneva for the World Trade Organization’s (WTO’s) 12th Ministerial Conference (MC12), amid low expectations. The meet takes place under the shadow of global inflation, supply chain disruptions, lingering pandemic, slowing growth momentum, the Russia-Ukraine war, food crisis, backlash against globalisation and general distrust and deteriorating relations among some member countries.

The WTO was established in 1995 after eight years of negotiations at the Uruguay Round of the General Agreement on Trade and Tariffs (GATT). Its three main functions are to provide a forum for negotiations