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Wednesday, 04 November 2009

Global solutions required for global problems

The huge challenges facing the world economy demonstrate that we live in a global economic system and there is no escape behind protectionist trade barriers.  World leaders have taken decisive steps to reduce the risk of catastrophic failure of the financial system. In recognition of the need for global action the G-20 has assumed the mantle of global economic coordination. Global Sugar Alliance members support the G-20 Leaders' Pittsburgh commitment "to adopt a set of policies, regulations and reforms to meet the needs of the 21st century global economy" and recognise that to achieve this outcome, two major global issues must be addressed: (i) the threat of climate change becoming a reality that cannot be addressed in any other way than by coordinated global action and (ii) the Doha Round of trade negotiations as WTO's Doha round of negotiations, conceived to free up trade in agricultural products and enable faster development of the world's poorest economies, still has not delivered an outcome.

Source: Reuters