G33 Nations Seek Permanent Solution for Public Stockholding at WTO Meet

The G33 group of countries, comprising 47 developing and least developed nations, has expressed deep concern regarding the lack of progress in agriculture trade negotiations. In a joint statement, the group urged World Trade Organization (WTO) members to work towards a permanent solution for the issue of public stockholding of grains for food security purposes.

Representative image

Special Safeguard Mechanism

The G33 group emphasized the importance of the Special Safeguard Mechanism (SSM) as a crucial instrument against significant import surges or sudden price declines. They called for WTO members to reach an agreement and adopt a decision on SSM by the 14th WTO Ministerial Conference (MC).

Permanent Solution for Public Stockholding

On the matter of public stockholding, the G33 nations sought a permanent solution during the 13th Ministerial Conference, which commenced in Abu Dhabi on Monday. The MC serves as the highest decision-making body of the WTO.

Critical Importance of Public Stockholding

The G33 statement highlighted the critical significance of public stockholding for food security in developing countries. It enables governments to procure crops from farmers at the minimum support price (MSP) and store and distribute food grains to the poor. This program supports low-income or resource-poor producers and contributes to rural development.

The G33 nations' concerns over agriculture trade negotiations and their call for a permanent solution for public stockholding underscore the importance of addressing these issues for food security and rural development in developing countries. The 13th WTO Ministerial Conference provides a crucial platform for WTO members to engage in constructive discussions and work towards finding mutually beneficial solutions.