November 30, 2009 6:30 PM

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G-20 countries played a pivotal role at WTO: Commerce Minister

Commerce and Industry Minister Anand Sharma has said that the G-20 countries have played a pivotal role in driving the agenda of the agriculture negotiations at the WTO. Addressing the ministerial meeting of the grouping in Geneva on Sunday, the minister also appreciated the concerted efforts of the G-33 nations which had paid rich dividends in the negotiations on the critical Special and Differential treatment provisions of Special Products and the Special Safeguard Mechanism. Mr Sharma, however, expressed concern about the limited progress on substantive issues since the resumption of the talks in September 2009. He said that in order to take the Round to a successful conclusion in 2010, it was important to achieve convergence through text-based negotiations, with a view to narrowing differences on major outstanding issues. According to an official release, G-20 Ministers noted that international trade had been seriously impacted by the world economic crisis. They noted that developing countries had borne the brunt of the crisis as they lacked the resources to fund stimulus packages or bail-out programmes. The G-33 Ministers collectively reiterated that the international trade regime must complement the realization of their development requirements by guaranteeing their food security, livelihood security and rural development. They sought a multilateral trading system which was supportive of the needs of all people, especially those who tended to be marginalised by globalisation.

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