G-33

Why in news?

• G-33 Virtual Informal Ministerial Meeting was organised by Indonesia on 16^th September 2021 to discuss the agricultural priority issues of G-33 and the way forward for the 12th Ministerial Conference of the World Trade Organisation (WTO).

What is G-33?

• The G33 (or the Friends of Special Products in agriculture) is a coalition of developing countries, established prior to the 2003 Cancun ministerial conference, that have coordinated during the Doha Round of World Trade Organization negotiations, specifically in regard to agriculture.
• Dominated by India, the group has "defensive" concerns regarding agriculture in relation to World Trade Organization negotiations, and seeks to limit the degree of market opening required of developing countries.

Rationale for its formation:

• When rich governments can afford to heavily subsidize their agriculture, predatory dumping can undermine a poorer country's agricultural economy. Developing countries aim to balance power through tariffs, in order to manage their own food security, stabilize of the livelihoods of their farming populations, and strengthen rural development.
• The group has advocated the creation of a "special products" exemption, which would allow developing countries to exempt certain products from tariff reductions, and also a "special safeguard mechanism" which would permit tariff increases in response to import surges.

Members

• Despite the name, there are currently 48 member nations

PRACTICE QUESTION:

In which one of the following groups are all the four countries members of G33?

(a) China, Russia, India, Afghanistan

(b) Bangladesh, Myanmar, Philippines, Saudi Arabia

(c) India, Sri Lanka, Turkey, Pakistan

(d) Canada, Brazil, China, India

Answer