G 8 to wrap Doha Round?

Leaders from the G8 group of major world economies will commit to wrapping up the WTO’s Doha Round of trade talks as soon as possible, according to a draft communiqué that was seen by Reuters. Absent from that statement, however, is a timeline for the completion of the talks, a point that is being strongly pushed by the G5 group of major developing economies.

But a second draft statement that has been prepared for the G8 plus the G5 does include such a timeframe - it calls for the global trade talks to be concluded before the end of next year.

”Leaders commit to reaching an ambitious and balanced conclusion to the Doha round in 2010, consistent with its mandate, building on progress already made on modalities,” a draft of the G8+G5 statement said, Reuters reported.

The discrepancies between the two drafts are expected to be ironed out in joint talks between the two groups on Thursday.

An announcement on Doha is expected to be made official before the end of the three-day G8 summit that kicked off in L’Aquila, Italy on Wednesday. The G8 countries consist of Britain, Canada, France, Germany, Italy, Japan, Russia and the United States.

The G5 countries - emerging economies Brazil, China, Egypt, India, Mexico and South Africa - were slated to hold parallel talks on Wednesday and will join the G8 leaders for meetings on Thursday.

WTO Director-General Pascal Lamy, who is attending the summit, shied away from assessing the prospects for concluding a global trade deal, which he has long championed as a means to bolster the global economy and forestall a substantial increase in protectionist measures amid the ongoing slump.

”I probably will be able to give you a clearer answer to this question on Friday after the G8 and the G8-plus-5 discussions on trade,” Lamy said on Tuesday, Reuters reported.

Further progress toward a Doha deal could come in early September, when India is planning to host a two-day conference of trade ministers in New Delhi. The ‘mini-ministerial’ will bring together top trade envoys from a select group of 25 to 30 countries, according to a trade official with knowledge of the meeting. While the meeting’s agenda has yet to be finalised, the focus of the gathering will be the Doha Round of trade talks, which have struggled along in fits and starts for nearly eight years without reaching a conclusion. The meeting in New Delhi, set for 3 and 4 September, is intended to build momentum on Doha ahead of a summit of the G20 heads of state to be hosted by the US later that month.

Also on the agenda at this week’s summit in L’Aquila is a proposal to help the world’s hungry.

”We hope to approve an initiative for food security in the world. We will approve about $10-15 billion for all the people in the world who are suffering from hunger,” Italian premier Silvio Berlusconi told journalists on Tuesday, Reuters reported.

Washington is prepared to pledge US$3-4 billion for the plan, and has called on other countries to match that commitment, according to a draft declaration that was seen by Reuters.

NGOs have called on the leaders to prioritise agriculture and food policies that improve the position of small producers and women in their declaration on the matter.

ICTSD reporting; “G8 plus G5 agree to conclude Doha in 2010 - draft,” REUTERS, 8 July 2009; “Berlusconi hopes G-8 to pledge $10-15 billion for food security,” 7 July 2009.

Leaders from the G8 group of major world economies will commit to wrapping up the WTO’s Doha Round of trade talks as soon as possible, according to a draft communiqué that was seen by Reuters. A second draft statement prepared for the G8 plus the G5 group of major developing economies calls for the global trade talks to be concluded before the end of next year.

”Leaders commit to reaching an ambitious and balanced conclusion to the Doha round in 2010, consistent with its mandate, building on progress already made on modalities,” a draft of the G8+G5 statement said, Reuters reported.

The announcements are expected to be made official before the end of the three-day G8 summit that kicked off in L’Aquila, Italy on Wednesday. The G8 countries consist of Britain, Canada, France, Germany, Italy, Japan, Russia and the United States.

The G5 countries - emerging economies Brazil, China, Egypt, India, Mexico and South Africa - were slated to hold parallel talks on Wednesday and will join the G8 leaders for meetings on Thursday.

WTO Director-General Pascal Lamy, who is attending the summit, shied away from assessing the prospects for concluding a global trade deal, which he has long championed as a means to bolster the global economy and forestall a substantial increase in protectionist measures amid the ongoing slump.

”I probably will be able to give you a clearer answer to this question on Friday after the G8 and the G8-plus-5 discussions on trade,” Lamy said on Tuesday, Reuters reported.

Further progress toward a Doha deal could come in early September, when India is planning to host a two-day conference of trade ministers in New Delhi. The ‘mini-ministerial’ will bring together top trade envoys from a select group of 25 to 30 countries, according to a trade official with knowledge of the meeting. While the meeting’s agenda has yet to be finalised, the focus of the gathering will be the Doha Round of trade talks, which have struggled along in fits and starts for nearly eight years without reaching a conclusion. The meeting in New Delhi, set for 3 and 4 September, is intended to build momentum on Doha ahead of a summit of the G20 heads of state to be hosted by the US later that month.

Also on the agenda at this week’s summit in L’Aquila is a proposal to help the world’s hungry.

”We hope to approve an initiative for food security in the world. We will approve about $10-15 billion for all the people in the world who are suffering from hunger,” Italian premier Silvio Berlusconi told journalists on Tuesday, Reuters reported.

Washington is prepared to pledge US$3-4 billion for the plan, and has called on other countries to match that commitment, according to a draft declaration that was seen by Reuters.

NGOs have called on the leaders to prioritise agriculture and food policies that improve the position of small producers and women in their declaration on the matter.

Courtsey- ICTSD