MercoPress. South Atlantic News Agency

Brazilian FM ratifies commitment to WTO

Vieira suggested the organization held annual meetings to deepen the engagement on member countries in ongoing affairs

Brazil's Foreign Minister Mauro Vieira Friday told World Trade Organization (WTO) Director-General Ngozi Okonjo-Iweala about the South American country's commitment to the global entity under the new administration of President Luiz Inácio Lula Da Silva.

During a telephone conversation, the Brazilian diplomat also suggested the WTO held annual meetings to “improve the organization's ability to respond to crises and to broaden the engagement of members, contributing to the process of reform and invigoration of the organization,” according to Itamaraty (Brazilian Foreign Ministry) sources.

Vieira also reaffirmed Brazil's commitment to the strengthening and modernization of the Multilateral Trade System and the WTO and assured the Brazilian government's commitment to the ratification of the Agreement on Fisheries Subsidies, which establishes new trade rules for the sector.

The document was concluded in the last WTO ministerial conference and, according to Itamaraty, “constitutes an important contribution to multilateralism and the Sustainable Development Goals.”

Vieira's message came at a time when the WTO has overcome a months-long impasse over negotiations to fix new global trade rules for agriculture and fisheries.

Ngozi Okonjo-Iweala said on Twitter Friday that Iceland's Ambassador Einar Gunnarsson was appointed as head of talks seeking to cut down subsidies that are endangering fish stocks. Türkiye's Ambassador Alparslan Acarsoy will head the agriculture talks.

The impasse lasted around six months and was becoming a source of frustration as well as an embarrassment for the 28-year-old global trade watchdog.