Insights on the Global Tea Market 2020-2024: COVID-19 Analysis, Drivers, Restraints, Opportunities, and Threats

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The IoT insurance market is expected to grow at a CAGR of 40% over the forecast period (2021-2026)
Insurance is one of the fastest-growing sectors in the global IoT market. Growth of the insurance sector in parallel with innovative insurance models and growing usage of IoT to reduce the premium and risk-related costs are some of the major factors driving the studied market adoption in recent years.New York, March 01, 2021 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "IoT Insurance Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)" - https://www.reportlinker.com/p06028509/?utm_source=GNW The growing adoption of digital technologies across various end-user industries and advancements in devices or sensors for collecting data further expand the studied market growth over the forecast period.- According to an Insurance industry report, 20% of the insurance companies were either piloting, testing, or deploying IoT initiatives. A combination of multiple technologies enabler drives this increasing adoption of IoT in the insurance. According to the study conducted by UK-based insurance market Lloyd’s, IoT will bring various advantages to the insurance industry, such as avoiding preventable losses, better risk understanding, capturing patterns and behaviors, fraud detection, and enabling proactive monitoring. According to Forbes, IoT can benefit insurance companies by reducing the cost of the claims process by 30%, whereas IoT-enabled devices can decrease premiums by 25%.- IoT has the power do not just transform in the insurer’s top line, but also the bottom line. Once permitted by the policyholder, insurers can live to raise the data and alerts from IoT devices to deliver services with minimizing touchpoints. The growing trend of connected devices across various industries is mainly enabling insurance companies to have greater control over data, thereby mitigating fraud. IoT implementation will also help to enhance efficiencies of systems, improve protection mechanisms, and reduce claims, leading to cost efficiency. The number of devices used per customer had increased significantly, denoting rating higher acceptability in the ecosystem.- With smart grids envisioned to globally take over the entire energy industry, the IoT utilities are expected to gain traction over the forecast period. 5G is likely to bring advancements and further expand the scope of IoT- enabled solutions in the sector. Many industry experts also claim that the vehicle telematics is leading the 5G in IoT insurance application. The rising commercialization of 5G will allow the collection of more granular data in real-time about the performance and health of the vehicle and the drivers’ behavior and enable the delivery of more sophisticated pricing plans for insurance companies. For instance, Harman launched the 5G -ready car telematics solution- The recent COVID-19 outbreak and the nationwide lockdown have impacted many industries worldwide; however, insurance is once such sector that has witnessed a significant surge in demand, especially in health and related segments. Due to COVID-19, many industries have increased their investment in IoT solutions, especially healthcare, which further expands the studied market scope. With expanding the reach of IoT enabled insurance services during coronavirus pandemic, it is expected that usage-based insurance (UBI) will only continue to grow. According to the EFMA, 38% of insurers capture data from real-time (IoT) devices, and only 33% mine data via natural language processing-based support systems like chatbots.- However, with COVID-19, insurers face new challenges that call for a measured, practical, and informed approach. Therefore, the industry needs to upgrade, as companies will need technology more than ever to sustain their business in the post-COVID-19 era. Insurers will need to consider establishing cross-functional, emergency decision-making teams to coordinate the organization’s response, set new safety protocols, and assure quicker action as conditions continue to evolve. To enhance their IoT offering, insurers will need to deploy technologies like AI, Machine Learning, Robotic Process Automation, Augmented Reality, Telematics, Social Media, and Drones.Key Market TrendsAutomotive is Expected to Hold Significant Share- The growing market for telematics and trends, such as ADAS and autonomous vehicles, mainly drive the adoption of IoT insurance in the automotive and transportation sectors. The NAIC Center for Insurance Policy and Research (CIPR) conducted a study on Usage-Based Insurance and Vehicle Telematics. They explored the effect of IoT and other technologies in the automotive insurance industry and analyzed the implications of telematics for insurers, consumers, and state regulators. The study concluded that telematics-supported usage-based programs provide societal benefits and advantages for both the consumer and the insurer.- With an increase in the usage of connected vehicles connected to V2X (meaning vehicle to an external IoT device), there is intelligent and cooperative IoT data exchange between them. This data is further utilized for calculating premiums. Moreover, automobile companies with an outlook toward connected cars are currently expanding their area of interest toward insurance telematics in the region. Government and insurance companies are also boosting IoT-enabled automotive, as it also provides safety. The US-based Insurance Institute for Highway Safety (IIHS) estimates that the standard auto brake will prevent 28,000 crashes and 12,000 injuries in the US.- Additionally, in May 2019, Unipol, Italy’s largest auto insurer, partnered with TrueMotion to leverage data-driven insights from TrueMotion’s platform to power its smartphone telematics programs. This has been achieved through Linear’s BestDriver program in Italy, which is set to promote safe driving and fight distracted driving specifically. In August 2019, FCA Italy and LexisNexis Risk Solutions, a data analytics and technology provider, collaborated to offer European FCA customers a range of customized car insurance and mobility services. The services include insurance policies based on actual vehicle use, short, medium, and long-term car rental or car-sharing solutions.- Advancement in telematics is further enhancing IoT enabled insurance, as it helps in calculating premiums and limiting fraud claims. According to Towers Watson, multinational risk management, insurance brokerage, and advisory company, IoT-enabled telematics technology can help reduce high-risk behaviors in young drivers, as approximated, by more than 30%, lowering claims costs in this age group by a bare minimum of 30%. In November 2019, Active Communications International hosted a joint Insurance Telematics’ and ‘Connected Cars’ conference in London, which looked onto integrated GNSS systems as providing more than just positioning and navigation.North America is Expected to Hold Major Share- North America is expected to hold a significant market share in the IoT insurance market, given the growing awareness and the faster adoption of IoT. Many companies, such as Progressive, Liberty Mutual, and State Farm, are leveraging the IoT technologies in this region to enhance their efficiency, in terms of risk assessment. John Hancock, a major insurance company in the United States, was one of the first to utilize the power of wearable devices by partnering with Vitality, distributing free Fitbits to customers, and tracking their well-being, making them less at risk of filing a claim. Moreover, the company is home to some significant players who offer their IoT solutions for various insurance companies.- The region is also witnessing an increasing number of startups. In June 2020, the US-based startup that offers an AI-based data platform for insurance underwriting, Planck, raised a USD 16 million Series B led by Team 8 Capital, anticipated that clients would need to handle an influx of insurance requests as businesses adapt to the COVID -19 pandemic. US-based car insurance company, Progressive, uses its usage-based-insurance (UBI) telematics program to monitor how its car insurance customers drive. The company has made observations of over 1.7 trillion drivers and says that its prices are based on "how user drives, rather than just on traditional factors like where users live, and what kind of car users have."- In April 2020, Parsyl, Inc., a US-based supply chain data platform, announced ColdCover by Parsyl Insurance, a suite of connected cargo insurance products for perishable goods powered by its IoT data platform. As the only integrated supply chain visibility and cargo insurance solution, Parsyl has created a data-driven insurance offering that is simple, transparent, and fast, including the industry’s first and only parametric spoilage policy, protecting against losses due to temperature. Parsyl’s cargo insurance suite gives shippers of perishable goods the coverage, predictability, and protection they need for their products’ most significant risks.- In September 2019, Bell announced an expanded reciprocal roaming partnership with AT&T to provide Canadian business customers access to AT&T’s LTE-M network across the United States. Bell was the first Canadian company to launch a 5G-ready LTE-M network in Canada, transforming how Canadian insurance businesses leverage the Internet of Things (IoT) technology. LTE-M supports various low-power IoT applications with enhanced coverage, lower costs, and longer battery life for IoT devices connecting to Bell’s national network. Bell LTE-M supports a wide range of large-scale IoT innovations, including asset tracking, fleet management, smart sensors, and smart city applications, etc.Competitive LandscapeThe IoT insurance market is highly competitive, owing to the presence of many large and small players in the market, operating in the domestic and international markets. The market appears to be fragmented due to the presence of many technological giants in the market. Some of the major players in the market are IBM Corporation, Microsoft Corporation, Intel Corporation, and SAP SE.- April 2020 - HBF, a private health insurer based in Australia, adopted Oracle Health Insurance (OHI) to support its digital transformation as part of a broader strategy to modernize its systems and processes. The organization currently has more than 1 million members and a robust reputation in Western Australia. With Oracle Health Insurance as the core platform across its health insurance products, HBF aims to grow its membership and expand its services throughout Australia.- May 2020 - Verisk and Geotab announced that the Verisk Data Exchange Add-In is now available on the Geotab Marketplace. Fleet customers of Geotab, which provides connected vehicle solutions for improved fleet management to more than two million global subscribers, can now choose to share their telematics data directly with insurers participating in the Verisk Data Exchange through this new integration. The data will help commercial auto insurers gain more granular insights into fleet risks to refine underwriting, rating, and other potential insurance services for participating policyholders.Reasons to Purchase this report:- The market estimate (ME) sheet in Excel format- 3 months of analyst supportRead the full report: https://www.reportlinker.com/p06028509/?utm_source=GNWAbout ReportlinkerReportLinker is an award-winning market research solution. Reportlinker finds and organizes the latest industry data so you get all the market research you need - instantly, in one place.__________________________ CONTACT: Clare: clare@reportlinker.com US: (339)-368-6001 Intl: +1 339-368-6001
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Outlook on the Pressure Transmitter Global Market to 2026 - by Type, Sensing Technology, Fluid Type, Application, End-use Industry and Region
Dublin, March 01, 2021 (GLOBE NEWSWIRE) -- The "Pressure Transmitter Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026" report has been added to ResearchAndMarkets.com's offering. The global pressure transmitter market reached a value of US$ 3.19 Billion in 2020. A pressure transmitter is a sensor that regulates the compression applied over a liquid, fluid or gas. The device measures rapid changes in pressure, which are converted into mechanical energy and electric current. It also consists of an electronic amplifier and a pressure transducer to accurately transmit the current. These transmitters are commonly used in combination with other devices to measure depth, water flow, altitude and pressure loss to prevent any leakages in the industrial equipments. They are immune to radiation and electromagnetic fields, owing to which, they find extensive applications across various industry sectors such as chemical, oil and gas, power generation, food & beverages, metals & mining, etc.The emerging trend of automation for industrial optimization is one of the key factors driving the growth of the market. The integration of digital communication interfaces, which offer remote calibration and diagnostics, is rapidly replacing traditionally used analog pressure transmitters. Besides being increasingly utilized in industrial machinery, these transmitters also find extensive application in consumer electronics for indoor navigation and creating an overall user-friendly interface, among other purposes. Additionally, the continuously rising healthcare sector is also favoring the market growth. Pressure transmitters are used to transmit blood pressure information from the catheter to the patient's monitoring system.Also, steam sterilizers used in hospitals utilize these transmitters to regulate the quality of steam produced by maintaining the pressure inside the sterilization chamber. Other factors, such as increasing investments in the energy industry, coupled with the enhanced adoption of technologically advanced variants for reducing human errors, are projected to drive the market in the upcoming years. Looking forward, the publisher expects the global pressure transmitter market to reach a value of US$ 4.18 Billion by 2026, exhibiting a CAGR of 4.57% during 2021-2026.This latest report provides a deep insight into the global pressure transmitter market covering all its essential aspects. This ranges from macro overview of the market to micro details of the industry performance, recent trends, key market drivers and challenges, SWOT analysis, Porter's five forces analysis, value chain analysis, etc. This report is a must-read for industry players, investors, researchers, consultants, business strategists, and all those who have any kind of stake or are planning to foray into the pressure transmitter market in any manner.Breakup by Type: Absolute Pressure TransmittersGauge Pressure TransmittersDifferential Pressure TransmittersMultivariable Pressure Transmitters Breakup by Sensing Technology: Strain GaugeCapacitivePiezoelectricOthers Breakup by Fluid Type: LiquidSteamGas Breakup by Application: FlowLevelPressure Breakup by End-Use Industry Oil & GasPower GenerationWater & WastewaterFood & BeveragesChemicalsMetals & MiningPulp & PaperPharmaceuticalsOthers Breakup by Region: Asia PacificChinaJapanIndiaSouth KoreaAustraliaIndonesiaOthersNorth AmericaUnited StatesCanadaEuropeGermanyFranceUnited KingdomItalySpainRussiaOthersLatin AmericaBrazilMexicoArgentinaColumbiaChilePeruOthersMiddle East and AfricaTurkeySaudi ArabiaIranUnited Arab EmiratesOthers Competitive Landscape:The competitive landscape of the industry has also been examined with some of the key players being ABB Ltd., Dwyer Instruments Inc., Emerson Electric Co., Endress+Hauser Consult AG, General Electric Co., Honeywell International Inc., Sensata Technologies Inc., SensorONE Ltd., Siemens AG, Yokogawa Electric Corporation, etc.Key Questions Answered in This Report: How has the global pressure transmitter market performed so far and how will it perform in the coming years?What are the key regional markets?Whta has been the imapct of COVID-19 on the global pressure transmitter market?What is the breakup of the market based on the type?What is the breakup of the market based on the sensing technology?What is the breakup of the market based on the fluid type?What is the breakup of the market based on the application?What is the breakup of the market based on the end-use industry?What are the various stages in the value chain of the industry?What are the key driving factors and challenges in the market?What is the structure of the global pressure transmitter market and who are the key players?What is the degree of competition in the market? Key Topics Covered: 1 Preface2 Scope and Methodology2.1 Objectives of the Study2.2 Stakeholders2.3 Data Sources2.3.1 Primary Sources2.3.2 Secondary Sources2.4 Market Estimation2.4.1 Bottom-Up Approach2.4.2 Top-Down Approach2.5 Forecasting Methodology3 Executive Summary4 Introduction4.1 Overview4.2 Key Industry Trends5 Global Pressure Transmitter Market5.1 Market Overview5.2 Market Performance5.3 Impact of COVID-195.4 Market Forecast6 Market Breakup by Type6.1 Absolute Pressure Transmitters6.1.1 Market Trends6.1.2 Market Forecast6.2 Gauge Pressure Transmitters6.2.1 Market Trends6.2.2 Market Forecast6.3 Differential Pressure Transmitters6.3.1 Market Trends6.3.2 Market Forecast6.4 Multivariable Pressure Transmitters6.4.1 Market Trends6.4.2 Market Forecast7 Market Breakup by Sensing Technology7.1 Strain Gauge7.1.1 Market Trends7.1.2 Market Forecast7.2 Capacitive7.2.1 Market Trends7.2.2 Market Forecast7.3 Piezoelectric7.3.1 Market Trends7.3.2 Market Forecast7.4 Others7.4.1 Market Trends7.4.2 Market Forecast8 Market Breakup by Fluid Type8.1 Liquid8.1.1 Market Trends8.1.2 Market Forecast8.2 Steam8.2.1 Market Trends8.2.2 Market Forecast8.3 Gas8.3.1 Market Trends8.3.2 Market Forecast9 Market Breakup by Application9.1 Flow9.1.1 Market Trends9.1.2 Market Forecast9.2 Level9.2.1 Market Trends9.2.2 Market Forecast9.3 Pressure9.3.1 Market Trends9.3.2 Market Forecast10 Market Breakup by End-Use Industry10.1 Oil & Gas10.1.1 Market Trends10.1.2 Market Forecast10.2 Power Generation10.2.1 Market Trends10.2.2 Market Forecast10.3 Water & Wastewater10.3.1 Market Trends10.3.2 Market Forecast10.4 Food & Beverages10.4.1 Market Trends10.4.2 Market Forecast10.5 Chemicals10.5.1 Market Trends10.5.2 Market Forecast10.6 Metals & Mining10.6.1 Market Trends10.6.2 Market Forecast10.7 Pulp & Paper10.7.1 Market Trends10.7.2 Market Forecast10.8 Pharmaceuticals10.8.1 Market Trends10.8.2 Market Forecast10.9 Others10.9.1 Market Trends10.9.2 Market Forecast11 Market Breakup by Region11.1 Asia Pacific11.1.1 China11.1.1.1 Market Trends11.1.1.2 Market Forecast11.1.2 Japan11.1.2.1 Market Trends11.1.2.2 Market Forecast11.1.3 India11.1.3.1 Market Trends11.1.3.2 Market Forecast11.1.4 South Korea11.1.4.1 Market Trends11.1.4.2 Market Forecast11.1.5 Australia11.1.5.1 Market Trends11.1.5.2 Market Forecast11.1.6 Indonesia11.1.6.1 Market Trends11.1.6.2 Market Forecast11.1.7 Others11.1.7.1 Market Trends11.1.7.2 Market Forecast11.2 North America11.2.1 United States11.2.1.1 Market Trends11.2.1.2 Market Forecast11.2.2 Canada11.2.2.1 Market Trends11.2.2.2 Market Forecast11.3 Europe11.3.1 Germany11.3.1.1 Market Trends11.3.1.2 Market Forecast11.3.2 France11.3.2.1 Market Trends11.3.2.2 Market Forecast11.3.3 United Kingdom11.3.3.1 Market Trends11.3.3.2 Market Forecast11.3.4 Italy11.3.4.1 Market Trends11.3.4.2 Market Forecast11.3.5 Spain11.3.5.1 Market Trends11.3.5.2 Market Forecast11.3.6 Russia11.3.6.1 Market Trends11.3.6.2 Market Forecast11.3.7 Others11.3.7.1 Market Trends11.3.7.2 Market Forecast11.4 Latin America11.4.1 Brazil11.4.1.1 Market Trends11.4.1.2 Market Forecast11.4.2 Mexico11.4.2.1 Market Trends11.4.2.2 Market Forecast11.4.3 Argentina11.4.3.1 Market Trends11.4.3.2 Market Forecast11.4.4 Columbia11.4.4.1 Market Trends11.4.4.2 Market Forecast11.4.5 Chile11.4.5.1 Market Trends11.4.5.2 Market Forecast11.4.6 Peru11.4.6.1 Market Trends11.4.6.2 Market Forecast11.4.7 Others11.4.7.1 Market Trends11.4.7.2 Market Forecast11.5 Middle East and Africa11.5.1 Turkey11.5.1.1 Market Trends11.5.1.2 Market Forecast11.5.2 Saudi Arabia11.5.2.1 Market Trends11.5.2.2 Market Forecast11.5.3 Iran11.5.3.1 Market Trends11.5.3.2 Market Forecast11.5.4 United Arab Emirates11.5.4.1 Market Trends11.5.4.2 Market Forecast11.5.5 Others11.5.5.1 Market Trends11.5.5.2 Market Forecast12 SWOT Analysis12.1 Overview12.2 Strengths12.3 Weaknesses12.4 Opportunities12.5 Threats13 Value Chain Analysis13.1 Overview13.2 Inbound Logistics13.3 Operations13.4 Outbound Logistics13.5 Marketing and Sales13.6 Service14 Porters Five Forces Analysis14.1 Overview14.2 Bargaining Power of Buyers14.3 Bargaining Power of Suppliers14.4 Degree of Competition14.5 Threat of New Entrants14.6 Threat of Substitutes15 Price Indicators16 Competitive Landscape16.1 Market Structure16.2 Key Players16.3 Profiles of Key Players16.3.1 ABB Ltd.16.3.1.1 Company Overview16.3.1.2 Product Portfolio16.3.2 Dwyer Instruments Inc.16.3.2.1 Company Overview16.3.2.2 Product Portfolio16.3.3 Emerson Electric Co.16.3.3.1 Company Overview16.3.3.2 Product Portfolio16.3.3.3 Financials16.3.3.4 SWOT Analysis16.3.4 Endress+Hauser Consult AG16.3.4.1 Company Overview16.3.4.2 Product Portfolio16.3.4.3 Financials16.3.4.4 SWOT Analysis16.3.5 General Electric Co.16.3.5.1 Company Overview16.3.5.2 Product Portfolio16.3.5.3 Financials16.3.5.4 SWOT Analysis16.3.6 Honeywell International Inc.16.3.6.1 Company Overview16.3.6.2 Product Portfolio16.3.6.3 Financials16.3.6.4 SWOT Analysis16.3.7 Sensata Technologies Inc.16.3.7.1 Company Overview16.3.7.2 Product Portfolio16.3.8 SensorONE Ltd.16.3.8.1 Company Overview16.3.8.2 Product Portfolio16.3.9 Siemens AG16.3.9.1 Company Overview16.3.9.2 Product Portfolio16.3.9.3 Financials16.3.9.4 SWOT Analysis16.3.10 Yokogawa Electric Corporation16.3.10.1 Company Overview16.3.10.2 Product Portfolio16.3.10.3 Financials16.3.10.4 SWOT AnalysisFor more information about this report visit https://www.researchandmarkets.com/r/98t4o8 CONTACT: CONTACT: ResearchAndMarkets.com Laura Wood, Senior Press Manager press@researchandmarkets.com For E.S.T Office Hours Call 1-917-300-0470 For U.S./CAN Toll Free Call 1-800-526-8630 For GMT Office Hours Call +353-1-416-8900
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The report notes a sharp increase in Covid-19-related threats. In January 2020, phishing attacks accounted for only 5% of all threats blocked by Allot Secure solutions in Europe. By April, at the peak of the first wave of Covid-19, phishing attacks rose to 56% of all blocked attacks. This reflects how cyber criminals took advantage of their victims’ sensitivity to Covid-19 themed threats as the impact of the pandemic increased. This data was reported by European CSPs whose consumer customers are protected by Allot Secure. Allot Secure is a family of network-based cybersecurity solutions that provide the tools for CSPs to offer their consumer and SMB customers zero-touch, clientless protection from attacks including malware, viruses phishing, ransomware plus parental and content control services. Allot Secure services provide a unified experience for consumers on any device no matter how they connect to their data – on the mobile network, through their home router and as guests on Wi-Fi networks. “As a company that develops and integrates cybersecurity services for communication service providers, Allot is out in the field, helping our customers protect their customers from the effects of cyber crime on any device, wherever they are,” said Dr. Yael Villa, Senior Vice President Cybersecurity Division at Allot. “Although we measured a significant jump in consumer-facing phishing attacks in 2020, our research shows that Allot solutions also blocked over a billion other threats including malware, spyware and host of other types of attacks.” To get the full Allot 2020 Cyber Threat Report, you can download it from the Allot website. Allot is also offering a free webinar: ‘What Poses the Greatest Danger to Your Subscribers?’ on March 2, 2021 where Allot cybersecurity experts will discuss the research in the report. ### Additional Resources: Allot Blog: https://www.allot.com/blog Allot On-air Podcast: https://www.allot.com/resources/podcasts Follow us on Twitter: @allot_ltd Follow us on LinkedIn: https://www.linkedin.com/company/allot-communications About Allot Allot Ltd. (NASDAQ: ALLT, TASE: ALLT) is a provider of leading innovative network intelligence and security solutions for service providers and enterprises worldwide, enhancing value to their customers. Our solutions are deployed globally for network and application analytics, traffic control and shaping, network-based security services, and more. Allot’s multi-service platforms are deployed by over 500 mobile, fixed and cloud service providers and over 1000 enterprises. Our industry-leading network-based security as a service solution has achieved over 50% penetration with some service providers and is already used by over 20 million subscribers globally. Allot. See. Control. Secure. Forward-Looking Statement This release contains forward-looking statements, which express the current beliefs and expectations of company management. Such statements involve a number of known and unknown risks and uncertainties that could cause our future results, performance or achievements to differ significantly from the results, performance or achievements expressed or implied by such forward-looking statements. Important factors that could cause or contribute to such differences include risks relating to: acceptance of our products by our reseller and customer in EMEA, our ability to compete successfully with other companies offering competing technologies; the loss of one or more significant customers; consolidation of, and strategic alliances by, our competitors, government regulation; lower demand for key value-added services; our ability to keep pace with advances in technology and to add new features and value-added services; managing lengthy sales cycles; operational risks associated with large projects; our dependence on third-party channel partners for a material portion of our revenues; and other factors discussed under the heading "Risk Factors" in the Company's annual report on Form 20-F filed with the Securities and Exchange Commission. Forward-looking statements in this release are made pursuant to the safe harbor provisions contained in the Private Securities Litigation Reform Act of 1995. These forward-looking statements are made only as of the date hereof, and the Company undertakes no obligation to update or revise the forward-looking statements, whether as a result of new information, future events or otherwise. CONTACT: Seth Greenberg Allot +972 (0)0549222294 sgreenberg@allot.com Kimberly Velasco Fusion PR for Allot kimberly.velasco@fusionpr.com Ehud Helft / Kenny Green Allot Investor Relations +1-646-688-3559 Allot@gkir.com
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The Canadian Press
In 1st day on job, new WTO chief pushes for fisheries deal
GENEVA — The new head of the World Trade Organization threw her support behind long-fruitless efforts among member countries to agree on fisheries subsidies that could reduce overfishing, calling the efforts a top priority as she took office on Monday. Director-General Ngozi Okonjo-Iweala, a Nigerian economist and former government minister, donned a mask and doled out elbow bumps — COVID-19 oblige — as she took up the job at WTO headquarters on the banks of Lake Geneva. “I am coming into one of the most important institutions in the world and we have a lot of work to do,” said Okonjo-Iweala, 66, who is both the first woman and the first African to hold the job. “I feel ready to go.” Negotiators have been tasked with striking an agreement that could help eliminate subsidies for illegal, unreported and unregulated fishing, and prohibit some fisheries subsidies that contribute to overcapacity and overfishing. Member states of the WTO, which works to craft accords that can ensure smooth international trade, have struggled to reach an agreement on fisheries after roughly two decades of work. Okonjo-Iweala called for finalizing the negotiations “as soon as possible,” and credited Colombian ambassador Santiago Wills, who chairs the talks on fisheries subsidies, for his “really hard" work. “My presence is to try and support him proactively to try and unblock the situation so he can complete the fantastic work he has been doing,” she said alongside Wills as they met with various advocacy groups outside the WTO gates. “It has been 20 years — and 20 years is enough.” “Things are not easy when members are negotiating and there are still a lot of critical issues that need to be sorted out,” she said. "But we are hopeful.” Wills said it was “music to my ears to see on the first day the (director general) comes here and makes a statement on the fisheries negotiations.” Okonjo-Iweala's first day also consisted of meeting staffers and attending her first meeting of the General Council, made up of top envoys from the trade body’s 164 member states. The closed-door council meeting was largely held by videoconference because of measures aimed to fight the pandemic. Okonjo-Iweala’s victory in the race last fall was delayed largely because the U.S. administration under Donald Trump supported another candidate. Her appointment came through last month when the Biden administration cleared the way for her selection at the trade body, whose rules require consensus. The WTO is facing headwinds such as rising protectionism. Its dispute settlement system has been blocked because the U.S. has almost singlehandedly prevented appointments to its Appellate Body — a rough equivalent to an appeals court. Okonjo-Iweala said last month that “wide-ranging reforms” are needed, vowing that a first priority would be to address the economic and health consequences of the COVID-19 pandemic — such as by working to lift export restrictions on supplies and vaccines to get them distributed to countries in need. Jamey Keaten, The Associated Press
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In 1st day on job, new WTO chief pushes for fisheries deal