The world’s wealthiest and most industrialized countries (G8) joined hands with the emerging economies (G5) to reject protectionist measures in trade and investment. The declaration will be followed by negotiations and exploration of possible modes of direct engagement within the World Trade Organization (WTO), according to the SME Times.
Besides the G8 acceding to the G5 demands for strengthening financial regulation and institutional reforms, the groups agreed to reach a balanced conclusion to the Doha Development Round by 2010.
