WTO cancels summit with 164 governments as concerns over new Covid variant grow

Following new travel restrictions in Switzerland, following the emergence of a worrying new coronavirus variant, the World Trade Organisation has cancelled its conference of government ministers set to open on Tuesday in Geneva.

The MC12 conference at WTO headquarters in Geneva was set to take up key issues such as a long-awaited agreement on subsidies for fisheries, seen as a major way to prevent overfishing in the world’s seas, and an effort to waive patent and other intellectual property protections linked to Covid-19 vaccines.

Ambassadors from the WTO’s 164 member states agreed to delay the four-day conference after new Swiss travel restrictions meant all participants would not be able to attend in person, and a virtual meeting was not deemed to be an option, the official said.

The Swiss health department said that all direct flights from southern Africa were banned, and as of Friday evening all people arriving from that region as well as Belgium, Hong Kong and Israel – other places where the variant was detected – must present a negative Covid-19 test and go into quarantine for 10 days.

Across the city on Friday, the World Health Organisation classified the worrying new variant that was first detected in South Africa as a highly transmissible variant of concern, and named it the Omicron variant – as part of the Greek letter identification system used by the UN health agency.

South Africa’s delegation at the WTO has led the push for an easing of protections for patents and other intellectual property behind tools aimed at fighting the pandemic, including vaccines, diagnostics and therapeutics, in the hope of making them more available to the developing world.

See also  These 5 funding deals by Hyderabad startups during lockdown show why the city is an emerging hub

Many European countries including Switzerland, the EU and Britain have resisted the idea, saying it could stifle innovation.

Concerns about the new Omicron variant saw stock markets falling on Friday amid concerns about wider economic fallout including travel restrictions.


Leave a Reply

This website uses cookies. By continuing to use this site, you accept our use of cookies.