The World Bank has come under a torrent of criticism from the G-33 group, comprising India and 45 other developing countries, for its paper, which called for raising agricultural prices substantially through special products (SPs)
CONTENTS: I. THE WTO IN 2006: a year in review; II. LETTING GO OF AN IDEOLOGY: embracing the present; III. WHAT TO LOOK OUT FOR IN 2007; IV. IMPORTANT DATES TO REMEMBER; V. DOCUMENTS
The push for tariff reduction worldwide along with the pressure to eliminate production subsidies, which has been largely commanded by the World Trade Organization (WTO), has brought serious repercussions to the dominantly agrarian Asian economies.
As 2007 starts off as a 'make-or-break' year for the languishing Doha Development Agenda trade negotiations, the chair of the current agriculture negotiations - New Zealand's Crawford Falconer - feels strongly that a deal is do-able despite many unresolved issues.
The G-33 group of 46 developing countries had sent a detailed critique on the initial draft paper authored by Maros Ivanic and Will Martin for the World Bank, pointing out that the paper was fundamentally flawed in its assumptions and methodology, ignored the reality of the prevailing agrarian structures in most developing countries and misinterpreted the proposed operation and impact of Special Products (SPs).
Congress probably won't extend President George W. Bush's authority to negotiate trade agreements aimed at lowering tariffs and farm subsidies, the chairman of the House Agriculture Committee said today.
World Trade Organization Chief Pascal Lamy is expected to visit India next week to attend the CII Partnership Summit in Bangalore during which he would also seek New Delhi's support to finalise an agreement in the stalled Doha trade liberalisation negotiations by end-March, trade analysts said.
