Speaking at the conference, Sun stated that Grenada as a small island nation (SIDS) relies heavily on a predictable, transparent and efficient Multilateral Trading System (MTS) and that in recent years Grenada has focused on developing a digital economy and electronic commerce through of blockchain technologies in support of the WTO work program on e-commerce.
Justin Sun also called at the conference to address the current inequality in the COVID-19 vaccine. He argued that WTO members should identify an IPR waiver agreement on an intellectual property exemption for COVID-19 vaccines.
The WTO MC12 was also twice delayed due to the impact of COVID-19, which was seen as the main topic of the conference. The WTO Ministerial Conference is normally convened every two years. Members participate as delegations, which are made up of ministers of commerce and trade, agriculture and other departments related to trade, as well as WTO ambassadors.
The Geneva package, as the WTO MC 12 results are called, resulted in a series of important trade initiatives. The package adopted by WTO members includes a statement on the emergency response to food insecurity; World Food Program (WFP) Food Purchase Decision Exemptions from Export Bans or Restrictions; Statement on WTO Response to the COVID-19 Pandemic and Preparedness for Future Pandemics; Decision on the Agreement on Trade Related Aspects of Intellectual Property Rights (TRIPS); Decision on the moratorium on e-commerce and the work program and agreement on fisheries subsidies.