G8 leaders want global trade framework in place by July

G8 leaders want global trade framework in place by July    Leaders of the Group of Eight nations, who met this week at Sea Island, Ga., said they want to finalize the global trade frameworks by July in order to the put the World Trade Organization’s stalled Doha Development Agenda back on track.
   The G8 leaders will seek substantial reductions in trade-distorting agricultural subsidies and barriers to access to markets; open markets more widely to trade in goods; expand opportunities for trade in services; overhaul and improve customs rules to facilitate trade.
   “Cotton, a matter of primary concern to our African partners, can best be addressed ambitiously as part of the agricultural negotiations, while at the same time working on development-related issues with the international financial institutions,” said the White House in a June 9 statement.
   The G8 also called for considerable focus to be placed on integrating the poorest countries into the global trading system.
      G8 membership includes the United States, United Kingdom, Canada, France, Germany, Italy, Japan, and Russia.