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Words in the News
Friday 10 October 2003
G22 in post-Cancun trade talks
Losers of Cancun: Brazilian farmers Representatives of the G22, a group of developing countries, begin discussions in Argentina on Friday. They want to evolve a joint strategy for the next round of WTO related trade negotiations scheduled to be held in Geneva in mid December. This report from Sanjiv Srivastava:
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The G22 meeting assumed significance because it's the first time representatives of the developing world will be meeting after Cancun, where the rich and poor countries could not reach a consensus on a new world trade order.

According to officials in India, an influential member of the G22, together with China, Brazil, Mexico and Argentina, the meeting should help the developing countries consolidate their position before the next round of trade negotiations begin.

The developing world is unlikely to change its stand on the issue of agriculture subsidies. The poor countries say the rich nations are spending nearly three hundred and ten billion dollars every year on farm subsidies. These subsidies depress global farm prices and allow the developed countries to dump cheaper food grains in the poor countries, crippling the livelihoods of millions of small and marginal farmers in the developing world.

The meeting will also try and send a signal that the G22 has not weakened after countries like Peru and Colombia withdrew from the group last week.

Informal efforts are being undertaken by certain G22 members to further expand the group by initiating dialogue with African countries like Kenya, who are even more vocal in their opposition to the developed world on issues like farm subsidies, investment and competition.

Listen Listen to the words
the developing world
countries which are still building up, for example, their health, education, transport
a new world trade order
a new system to promote free trade
an influential member
here - a country that has a lot of power to affect other countries' decision
if you consolidate something, you make it stronger
discussions between people in which they try to reach an agreement
here - view, opinion
monies paid by a government to reduce the cost of producing goods so that prices can be kept low
depress global farm prices
if something depresses prices, it causes prices to fall
withdrew from
left, are no longer part of
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