TERMS USED IN THE ARTICLE
G-33 (Industrialized Country):
The Group of 33 was an international grouping that existed briefly in 1999, comprising the thirty-three leading national economies of the world. It superseded the Group of 22 in early 1999, and was itself superseded by the present Group of 20 later that year. A number of G33 meetings on the international financial system were held at the initiative of the finance ministers and central bank governors of the G7. The first meeting was held in Bonn, Germany in 1999.
G-33 (Developing Country):
The G33 is a group of developing countries that coordinate on trade and economic issues. It was created in order to help a group of countries that were all facing similar problems. The G33 has proposed special rules for developing countries at WTO Peace Clause negotiations, like allowing them to continue to restrict access to their agricultural markets.
WHAT EXACTLY IS THE PEACE CLAUSE ?
WTO in its Uruguay round (from 1986 to 1994) had agreed that any WTO member country can provide subsidies in agriculture to the maximum of 10% of the total production. If any member country exceeds that 10% limit then it will be penalized.
The original Peace clause (old one) was added as a part of Article 13 of the WTO agreement. According to this Peace clause, to the time this clause is in effect till that time, no WTO member country can seek penalties on the other WTO member country who has exceeded the 10% limit given for subsidies. In short during this peace clause period any country could provide subsidy for more than 10% of the total production. And no other country could go to WTO & complaint for this breach.
OLD PEACE CLAUSE IN THE EXACT WORDS OF WTO
Peace Clause:-
Provision in Article 13 of the Agriculture Agreement saying agricultural subsidies committed under the agreement cannot be challenged under other WTO agreements, in particular the Subsidies Agreement and GATT. Expired at the end of 2003.
G-33 (Industrialized Country):
The Group of 33 was an international grouping that existed briefly in 1999, comprising the thirty-three leading national economies of the world. It superseded the Group of 22 in early 1999, and was itself superseded by the present Group of 20 later that year. A number of G33 meetings on the international financial system were held at the initiative of the finance ministers and central bank governors of the G7. The first meeting was held in Bonn, Germany in 1999.
G-33 (Developing Country):
The G33 is a group of developing countries that coordinate on trade and economic issues. It was created in order to help a group of countries that were all facing similar problems. The G33 has proposed special rules for developing countries at WTO Peace Clause negotiations, like allowing them to continue to restrict access to their agricultural markets.
WHAT EXACTLY IS THE PEACE CLAUSE ?
WTO in its Uruguay round (from 1986 to 1994) had agreed that any WTO member country can provide subsidies in agriculture to the maximum of 10% of the total production. If any member country exceeds that 10% limit then it will be penalized.
The original Peace clause (old one) was added as a part of Article 13 of the WTO agreement. According to this Peace clause, to the time this clause is in effect till that time, no WTO member country can seek penalties on the other WTO member country who has exceeded the 10% limit given for subsidies. In short during this peace clause period any country could provide subsidy for more than 10% of the total production. And no other country could go to WTO & complaint for this breach.
OLD PEACE CLAUSE IN THE EXACT WORDS OF WTO
Peace Clause:-
Provision in Article 13 of the Agriculture Agreement saying agricultural subsidies committed under the agreement cannot be challenged under other WTO agreements, in particular the Subsidies Agreement and GATT. Expired at the end of 2003.
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