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G10 Ministers reiterated their commitment to a successful conclusion of the Doha Round by the end of the year. An agreement would be an important stimulation to the world economy at this stage.
G10 Ministers appreciated the Chair's efforts in preparing another revised text issued on 19th May. They noted, however, that major issues in the current text still need to be improved and expressed apprehension over the constantly increasing level of ambition. The Ministers reaffirmed that their priorities lie in opposing the introduction of tariff capping, an appropriate number and treatment of sensitive products as well as tariff cut levels, particularly in the upper band.
Participants also highlighted the need for a comprehensive approach to the negotiations and shared the view that progress needs to be made in other areas like NAMA, Services and Rules.
Ministers expressed deep concern over the recent food crisis which has impacted the food security of net-food importing Members, including G10 members. Ever since the outset of the Doha Development Agenda, G10 members have been emphasizing the need to address Non-Trade Concerns, especially food security, in the negotiations. The recent global food crisis shows that these arguments have become even more important. In this context, Ministers discussed export restrictions that could worsen the situation by putting further pressure on global food prices and stressed the need to strengthen the disciplines on this topic.
Ministers stressed that only a balanced outcome within the three pillars of the agriculture negotiations, and between all areas under the DDA negotiations, can be endorsed by Members under the principle of single undertaking.
Ministers discussed the next stages of the negotiation and examined matters of strategic importance to the group. G10 Ministers acknowledged that good progress has been made in agriculture. They urge all Members to undertake necessary efforts to help bridge the gaps and bring the round to a successful conclusion as soon as possible.