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- WTO chief urges countries to accept 'unprecedented package' of trade agreements
WTO chief urges countries to accept 'unprecedented package' of trade agreements
“The World Trade Organization (WTO) Chief presented countries with a series of draft trade agreements early on Friday that included pledges on health, food security and urged that they be accepted as a major meeting stretched into its second day of overtime,” said Reuters during early Friday’s Asian session.
The news also adds that the package, which WTO Chief Ngozi Okonjo-Iweala described as "unprecedented", did not currently include two of the most important deals under consideration: fisheries and a partial waiver for intellectual property rights for COVID-19 vaccines.
“However, delegates said they may be added later ahead of a final meeting scheduled for 0100 GMT on Friday,” mentioned Reuters.
Market implications
Following the news, AUD/USD bounced off intraday low to 0.7035 but stayed pressured while the S&P 500 Futures print mild gains around 3,685 at the latest.
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