Archive - mars 21, 2005 - Article

The Declaration of the G-20 Ministers called for the elimination of all export subsidies in agriculture within five years.

The Declaration of the G-20 Ministers called for the elimination of all export subsidies in agriculture within five years.

The Ministerial meeting of the Group of 20 developing countries concluded with the adoption of a Declaration and a press briefing in which Ministers from participating countries took part.

It asked for substantial reductions in trade distorting domestic support by developed countries as well as further disciplines in the Blue Box and the Green Box in order to avoid mere “box shifting' in domestic subsidies.

The G-20 summit could strengthen the cord of unity.

The Ministerial meeting of the Group of 20 developing countries concluded with the adoption of a Declaration and a press briefing in which Ministers from participating countries took part.

Several developed countries have intensified their advocacy in the World Trade Organisation for a simple Swiss or non-linear formula that would result in steep tariff reductions in imports of industrial goods in developing countries.

Colombia and the United States Proposed 'Sectoral Initiatives'under which countries would eliminate almost all tariffs and subsidies for certain products.

TRADE Secretary Juan B. Santos said it is premature to enter into a bilateral free trade agreement with the United States.

Santos said the Philippines' reliance on trade with the US has gone down because of growing trade with Japan, Greater China and Asean.