Yoo Myung-hee: "COVID-19 Medical Supplies Crisis Must Be Discussed at WTO"

Attended 'WTO Ottawa Group Trade Ministers Meeting' on 23rd
Discussed International Food Value Chain Response Measures and More

Yoo Myung-hee, Director-General for Trade Negotiations at the Ministry of Trade, Industry and Energy. (Photo by Yonhap News)

[Asia Economy Reporter Moon Chaeseok] Yoo Myung-hee, Chief Negotiator for Trade of the Ministry of Trade, Industry and Energy, emphasized on the afternoon of the 23rd that "the World Trade Organization (WTO) Secretariat should analyze the root cause of the medical supplies supply crisis caused by the novel coronavirus disease (COVID-19)."

She argued that based on this, more effective solutions should be discussed.

Chief Negotiator Yoo expressed this view while attending the WTO Ottawa Group Trade Ministers' meeting held via video conference at 9 p.m. (Korean time) that day.

The Ottawa Group is a small group of middle powers convened to discuss WTO reform, including 13 WTO member countries such as Canada, Australia, and the European Union (EU).

At this meeting, the EU presented the "Trade and Health Initiative" related to COVID-19 as an agenda item.

Chief Negotiator Yoo stated, "I sympathize with the purpose of this plan and hope it will develop into concrete details through in-depth discussions going forward."

Singapore proposed measures to respond to disruptions in the international food supply chain.

In particular, it stressed that export restrictions should be lifted on food purchased by the World Food Programme (WFP) for non-commercial and humanitarian purposes.

Chief Negotiator Yoo expressed her intention to participate in this "Singapore Proposal."

The WFP is a food aid organization under the United Nations, currently involving 36 member countries. It received the Nobel Peace Prize last month.

Chief Negotiator Yoo said, "To respond effectively to COVID-19, governments of each country must enhance transparency regarding measures introduced in the agricultural sector."

Participants at the meeting unanimously agreed on the need to restore trust in the WTO multilateral system.

They agreed to develop the "Trade and Health Initiative" and the "Singapore Proposal" discussed at the meeting and pledged close cooperation.