Pointing to the success of MC12, DDG Ellard stressed that multilateralism is vital for addressing the challenges of the global commons, such as climate change, overfishing and global pandemics.  She noted that, even though the current geography of trade encompasses multilateral, bilateral and plurilateral agreements, more than 75% of global trade is governed by WTO rules and takes place on the basis of the WTO's most favoured nation principle.

DDG Ellard stressed the benefits of the WTO's multilateral approach in bringing all 164 members of the organization to the table and giving each of them a voice. “Consensus is very difficult to achieve and negotiating multilateral agreements is a long game. But once consensus is achieved, it means that there is buy-in from all WTO members — that they own the Agreement and thus will be likely to respect it.  It's not a ‘majority rules’ outcome,” she said. In this regard, she commended WTO members for reaching multilateral outcomes to address the pandemic, overfishing and food insecurity at MC12 despite rising geopolitical tensions and the war in Ukraine.

Commenting on the outcomes of MC12, DDG Ellard highlighted the importance of the Agreement on Fisheries Subsidies as the first WTO Agreement with environmental sustainability at its core and only the second multilateral agreement added to the WTO rulebook since the Uruguay Round. She emphasized that the Agreement creates a funding mechanism to help developing countries and least developed countries implement their obligations, including with respect to transparency and notifications, as well as fisheries management. She noted that the WTO has already received a significant number of pledges from prospective donors.

DDG Ellard added that the Agreement contains a built-in agenda, which commits members to continue work on elements that have not been agreed at MC12 and develop further disciplines. She underlined the need for members to complete their acceptance processes for the Agreement to enter into force and start delivering for oceans sustainability.

DDG Ellard further underscored that the outcomes on the WTO's response to the pandemic cover both intellectual property aspects as well as trade aspects, such as export restrictions, regulatory cooperation and trade facilitation. With respect to the Ministerial Decision on the TRIPS Waiver, she noted, in particular, that it provides valuable, concrete and practical flexibilities on the steps that governments can take to diversify vaccine production and exports.

DDG Ellard further noted that the ministerial action aimed to address food insecurity reaffirms the importance of transparency requirements and prohibition of WTO-inconsistent export restrictions and prohibits export restrictions on purchases by the World Food Programme. She also emphasized the importance of the decision to extend the e-commerce moratorium on imposing customs duties for businesses, including small and medium-sized enterprises.

Finally, DDG Ellard observed that in the ministers' outcome document, WTO members committed to work on reforming all the three functions of the organization — negotiating, monitoring and dispute settlement. “What reform means, however, is very much in the eye of the beholder, and it is up to our members to outline its precise contours,” she stated. She further emphasized the importance of having a fully functional dispute settlement system and commended members' recent efforts to resolve disputes through various means, such as facilitator-assisted discussions.