AIRLINK 191.54 Decreased By ▼ -21.28 (-10%)
BOP 10.23 Decreased By ▼ -0.02 (-0.2%)
CNERGY 6.69 Decreased By ▼ -0.31 (-4.43%)
FCCL 33.02 Decreased By ▼ -0.45 (-1.34%)
FFL 16.60 Decreased By ▼ -1.04 (-5.9%)
FLYNG 22.45 Increased By ▲ 0.63 (2.89%)
HUBC 126.60 Decreased By ▼ -2.51 (-1.94%)
HUMNL 13.83 Decreased By ▼ -0.03 (-0.22%)
KEL 4.79 Decreased By ▼ -0.07 (-1.44%)
KOSM 6.35 Decreased By ▼ -0.58 (-8.37%)
MLCF 42.10 Decreased By ▼ -1.53 (-3.51%)
OGDC 213.01 Increased By ▲ 0.06 (0.03%)
PACE 7.05 Decreased By ▼ -0.17 (-2.35%)
PAEL 40.30 Decreased By ▼ -0.87 (-2.11%)
PIAHCLA 16.85 Increased By ▲ 0.02 (0.12%)
PIBTL 8.25 Decreased By ▼ -0.38 (-4.4%)
POWER 8.85 Increased By ▲ 0.04 (0.45%)
PPL 182.89 Decreased By ▼ -0.14 (-0.08%)
PRL 38.10 Decreased By ▼ -1.53 (-3.86%)
PTC 23.90 Decreased By ▼ -0.83 (-3.36%)
SEARL 93.50 Decreased By ▼ -4.51 (-4.6%)
SILK 1.00 Decreased By ▼ -0.01 (-0.99%)
SSGC 39.85 Decreased By ▼ -1.88 (-4.51%)
SYM 18.44 Decreased By ▼ -0.42 (-2.23%)
TELE 8.66 Decreased By ▼ -0.34 (-3.78%)
TPLP 12.05 Decreased By ▼ -0.35 (-2.82%)
TRG 64.50 Decreased By ▼ -1.18 (-1.8%)
WAVESAPP 10.50 Decreased By ▼ -0.48 (-4.37%)
WTL 1.78 Decreased By ▼ -0.01 (-0.56%)
YOUW 3.96 Decreased By ▼ -0.07 (-1.74%)
BR100 11,697 Decreased By -168.8 (-1.42%)
BR30 35,252 Decreased By -445.3 (-1.25%)
KSE100 112,638 Decreased By -1510.2 (-1.32%)
KSE30 35,458 Decreased By -494 (-1.37%)

G-33, a group of 42 developing countries, called for fairer global trade in agriculture on Sunday and demanded leeway to protect their staple farm products from subsidised imports from rich countries. The Indonesia-led group is advocating a scheme called Special Products and Special Safeguard Mechanisms (SP-SSM) and want it to be part of the World Trade Organisation.
The scheme aims to protect farmers in G-33 countries from cuts in customs duties and the influx of cheap, heavily subsidised imports from the United States and Europe.
Indonesia's trade minister said the livelihoods of rural farmers in developing countries needed to be protected.
"G-33 stresses the importance of the principle of proportionality in deciding the formula of tariff reduction so that the lowering of tariffs in the developing countries are not as great as what should be implemented by the advanced countries," Mari Pangestu told reporters.
Only 18 countries of the 42-member group sent delegates to Jakarta for the first G-33 ministerial meeting since the collapse of WTO talks in Cancun, Mexico, in 2003, that saw several developing countries slamming agricultural subsidies in the West.
The G-33 has a goal of ensuring issues of food security and rural development become an integral part of the current WTO trade negotiations.

Copyright Reuters, 2005

Comments

Comments are closed.