G20 developing nations

G20 Developing Nations

G20 developing nations

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Description:
The G20 (Group of 20, also variously G21, G22 and G20+) is a bloc of developing nation established on 20 August 2003. Distinct and separate from the G-20 major economies, the group emerged at the 5th Ministerial WTO conference, held in Cancún, Mexico, from 10 September to 14 September 2003. <!-- In trade negotiations, the group has pressed for an end to agricultural subsidies by industrialized nations and opposed liberalization. --> The G-20 accounts for 60% of the world's population, 70% of its farmers and 26% of world’s agricultural exports .

History

Its origins date back to June 2003, when foreign ministers from Brazil, India and South Africa signed a declaration known as the Brasilia Declaration, in which they stated that “major trading partners are still moved by protectionist concerns in their countries’ less competitive sectors and emphasized how important it is that the results of the current round of trade negotiations provide especially for the reversal of protectionist policies and trade-distorting practices Furthermore, Brazil, India and South Africa decided to articulate their initiatives of trade liberalization”.

Nonetheless, the “official” appearance of the G-20 occurred as a response to a text released on 13 August 2003 by the European Communities (EC) and the United States with a...
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