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G-20 mounts pressure on rich nations to cut farm support

G-20 mounts pressure on rich nations to cut farm support
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First Published: Mon, Jul 21 2008. 04 39 PM IST
Updated: Mon, Jul 21 2008. 04 39 PM IST
PTI
Geneva: An influential G-20 alliance, spearheaded by India, Brazil and South Africa, today mounted pressure on rich nations to substantially cut their lavish farm support in the wake of change in the world commodity prices.
“It will be necessary to achieve effective cuts in the overall trade distorting domestic subsidies, taking into account the change in pattern of world prices and its impact on current level of domestic support subsidies,” a G-20 communique said here ahead of the of the mini-Ministerial meeting for reaching a consensus on the Doha Round.
Reaffirming their unity, the G-20 said developed nations are responsible for distortions and restrictions in agriculture trade.
“At this critical juncture of... the global economy, developed countries must show they are prepared to live up to their responsibilities of reform by delivering on the mandate for substantial reductions in trade distorting domestic support, substantial improvement in market access and elimination of export agriculture negotiations,” it said.
On the issue of market access for agricultural products, the alliance said developed countries must deliver an outcome that fulfills the Doha mandate for substantial improvement in market access.
“The formula for tariff cuts must be ambitious, particularly on the top band and the minimum average cut of 54% must be respected in line with the G-20 proposal. The tariff capping must be effective and apply for both sensitive and non-sensitive products,” it said.
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First Published: Mon, Jul 21 2008. 04 39 PM IST