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All Eyes on Agriculture | 28 April 2008 | Following the World Bank, the World Trade Organization’s (WTO) has now called for major investments in agriculture, in light of the dramatic consequences of rising prices for foodstuffs in the Least Developed Countries. On April 19, WTO Director-General Pascal Lamy announced on Britain’s BBC4 radio that “agriculture has to be the main focus for the coming times,” and lamented that it had been neglected for the past decade in considerations of development assistance. Calling on all developed countries to strengthen the financial capacities of the UN World Food Programme (WFP) to respond to immediate emergencies, Pascal Lamy emphasized the need to take measures to increase the supply of agricultural products and thereby stem the rise in food prices. To this end, the WTO Director-General suggested that developed countries could wield their power within international institutions (World Bank, IMF, UN and FAO) to ensure that more of their funds would be earmarked to encourage agricultural production. Let us hope that these statements, which underscore the dangers of not regulating international agricultural markets, provide an opportunity to reconsider international cooperation and the WTO strategy in the context of the Doha round…before it is too late.
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Advocating for agricultural market regulation and global food governance | |
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