Ministers from G10 nations discuss WTO issues

DAVOS: Ministers and officials from G10 countries today deliberated upon the current WTO negotiations, including on agriculture, and reiterated their interest in having a well-functioning multilateral trading system.

They expressed their support for a balanced outcome at the 11th WTO Ministerial Conference scheduled at Argentina in December this year on various issues including agriculture.

The meeting, chaired by Swiss Federal Councillor Johann N Schneider-Ammann, took place on the fringes of the World Economic Forum (WEF) here.

"The G10 members assessed current issues of the WTO negotiations on agriculture and emphasised their willingness to constructively engage in upcoming trade talks ahead of the next WTO Ministerial Conference," Swiss government said in a release.

G10 is a grouping of net food-importing WTO members comprising Iceland, Israel, Japan, Korea, Liechtenstein, Mauritius, Norway as well as Chinese Taipei and coordinated by Switzerland.

While reiterating their strong interest in a well- functioning multilateral trading system, G10 members expressed their support for a balanced outcome at the next ministerial conference, the release said.

According to the release, G10 members recalled their sensitivities in agriculture, including with regard to domestic support.

"They emphasised that any new disciplines should target subsidies with the most distorting impact on world markets; that they should build on the current elements of the WTO agreement on agriculture; and that they should not affect G10 members in a disproportionate way," it added.