Tools to support recovery efforts
MARKET SNAPSHOT
STRI as at June 03 , 2022 = 7804.49 LOCAL SHARE PRICES
Atlantic and Pac. Pack. Telecom Holdings Communications Fiji Ltd Bird Institute Ltd Insurance Ltd Foods Ltd Television Ltd Finance Ltd Growth Fund Ltd Global Ltd Denarau Marina Ltd Green Ind. Fiji Ltd Patel Group Fiji Ltd Comp. of Fiji Ltd Tsusho Sth Sea Holdings Investments Ltd Holdings Ltd Convertible Notes
Amal. 1712 Free FijiCare FMF Fiji Kontiki Kinetic Pleass Port Pac. RB Rice Toyota VB Vision Fijian BSP -
THE WTO Twelfth Ministerial Conference (MC12) could provide the very tools and solutions we need to respond to, as well as support our recovery from the impact of the COVID-19 pandemic and the current food crisis.
This was highlighted by Minister for Commerce, Trade, Tourism and Transport, Faiyaz Koya at the Pacific ACP WTO Trade Ministers Meeting where they met to prepare for the WTO Twelfth Ministerial Conference (MC12) which was postponed from last November.
“With the COVID-19 pandemic moving towards being deemed as endemic, the MC12 will now take place as scheduled, in Geneva, from 12 to 15 June - which is less than two weeks from now,” he said.
“To start, let me thank the director Governance,
as well as the WTO director general for their welcome remarks which provided the state of play in the negotiations and set the scene for the discussions today.
“Both the SG and DG have highlighted the key challenges currently faced by the multilateral trading system with the MC12 taking place against the backdrop of the COVID-19 pandemic and the current geopolitical situation, resulting in the issue of food security rising to the fore,” he said.
He said work was intensifying in Geneva, particularly on the five priority areas which were expected to be delivered at MC12, namely, an agreement on fisheries subsidies, a WTO response to COVID-19, a roadmap on future negotiations for Agriculture reform, plus a decision on the exemption of World Food Programme (WFP) from export restrictions imposed by members, a standalone Declaration on food security; and WTO Reform.
“Colleague ministers, trade remains an important path for our small island developing countries to achieve sustainable economic development,” he added.
Yesterday’s meeting agenda focused on three main components, which were the Format and Draft Programme for MC12, key issues for the Pacific ACP States at MC12; and Pacific Group Statement for MC12.
“I wish to encourage all of you to engage constructively in furnishing our positions on key issues for MC12, as well as endorsing our Pacific Group Statement to be circulated at MC12.
“I wish to reiterate that the issues discussed today are still evolving and further updates on the state of play of negotiation will be provided at our Pacific WTO Ministerial Briefing, to be convened in Geneva on June 11, from 10 am to 12 pm,” he said.