During the COP28, representatives from the World Trade Organization (WTO) and the United Nations Food and Agriculture Organization (FAO) signed an agreement to cooperate on food, agriculture, and climate-related issues.The memorandum outlines a plan of action for future initiatives in these critical areas.
The memorandum of understanding identifies 17 key areas for potential collaboration and improvement. These include ongoing negotiations on agricultural reform, hosting the annual World Cotton Day on October 7, and bolstering support for the WTO Committee on Agriculture from FAO.
According to the WTO, both organizations will focus their efforts on climate initiatives and trade initiatives. They will collaborate through agreements and intergovernmental processes. Additionally, they aim to enhance food safety measures, animal and plant health capacity, and ensure safe trade practices for developing countries. A response group is currently monitoring how rising energy prices are impacting cost-of-living expenses, household budgets, energy poverty, and food insecurity. This group recently published a report titled "A World of Debt," which examines global public debt, international financial architecture inequalities, and how this global debt affects individuals.
Reiterating the collaborative spirit between both organizations, the WTO stated that they would work together on climate initiatives, trade initiatives while engaging in agreements and intergovernmental processes. The two entities also plan to help improve food safety measures while boosting animal and plant health capacity in developing countries. The response group is keeping track of how escalating energy prices are influencing living costs, household budgets while exacerbating energy poverty and food insecurity issues. The group's report "A World of Debt" delves into global public debt issues while shedding light on financial architecture inequalities at an international level besides exploring its impact on people.
The WTO press release further revealed that both organizations plan to produce publications focusing on the intersection between food security, agriculture, biodiversity, climate change, nutrition, and trade. They will also participate in technical cooperation activities and lend support to regional trade agreements that primarily focus on Africa.
The WTO and FAO are active participants in the Standards and Trade Development Facility, which serves as a platform for trade, agriculture, and health experts. This facility also provides funding to devise and implement projects that assist stakeholders in developing countries to enhance food safety measures, animal and plant health, thereby ensuring safer trade practices.