Affluent countries guide the G-20 declaration

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The issues concerning the ‘Global South’ such as reforms in multilateral development banks, indebt-edness, climate. finance and transfer of technology and reviving the trade dispute body of the WTO remained a rhet-oric, while the G7 nations had their way in the G20 New Delhi declaration.
“Interestingly, the Global South, which India had claimed to be championing, as a term itself does not find a mention even once in the 83 para declaration,” trade analyst Biswajit Dhar said.
“We commit to enhancing global food security and nutrition for all in line with the G20
Deccan High-Level Principles on Food Security and Nutrition
2023,” the declaration said.

G20-New Delhi

To achieve this, the member countries committed to six high-level principles, including facilitating open and free trade in food and fertilisers.
“Commit to facilitate open, fair, predictable, and rules-based agriculture, food and fertiliser trade, not impose export prohibitions or restrictions and reduce market distortions, in accordance with relevant WTO rules,” it said.
India has recently banned the export of wheat and some varieties of rice.
Dhar said: “The language of the declaration does not recognise that the distortions that the developed countries have been using systematically need to be removed.

G20-New Delhi

The WTO agenda for reforming AoA was disregarded. Imposes a moral obligation on India against using export prohibitions or restrictions.”
The declaration on multilateral trade system, he said finds “no mention of the in special needs and concerns of developing and least developed countries. The text can be interpreted as saying that the rules will be equally applied to all countries, irrespective d of their levels of development and capacities.
The declaration mentions remaining “committed to having a fully and well-functioning dispute settlement system. However, Ajay Srivastava, co-founder of Global Trade Research Initiative, said: “Members will have a tough task ahead considering the divergent approaches proposed by the US, EU, China, India, and other countries (on the dispute settlement system).”
He said: “The members have stressed on complementarity of trade and environmental policies. Will this embolden developed countries to use environmental reasons to erect trade barriers? The elephant in the room, the EU’s climate policies that will soon disrupt world trade, remained invisible. The G20 declaration did not find it important to give even a passing reference.
Dhar said the declaration had some positive language on strengthening multilateral development banks with a view to increasing the flow of concessional finance to low- and middle-income countries.
However, the language on garnering resources is woolly.
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