Leaders of the five fastest growing economies have said they are convinced that the

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successful conclusion of the Doha Round on the basis of the development mandate will provide a major stimulus to the restoration of confidence in world markets and inhibit emerging protectionist trends, which are particularly damaging to the developing countries.

In a joint declaration on trade, leaders of G5 countries, including Brazil, China, India, Mexico and South Africa, said the they were concerned over the present state of the world economy, "which submits the developing countries to an inordinate burden resulting from a crisis they did not initiate."

Egypt, which is a special invitee at the G8-G5 Summit, associated itself with the G5 declaration after being consulted on the matter. The G5 declaration also asserted that a strengthened multilateral trading system must play a role in promoting development and reducing poverty. The G5 leaders are worried that the developed economies have been increasingly resorting to protectionist measures against the developing countries, which, in turn, is also stalling a faster global economic recovery.

It is another matter that the developing countries themselves have been raising tough protectionist barriers. India holds the record for initiating the highest number of anti-dumping investigations under the WTO framework. In the past one year of economic crisis, India raised barriers against import of European and Chinese steel, Chinese toys and chemicals. Last year, it also banned export of foodgrains at the height of the world food crisis despite holding huge stocks in government-owned godowns.

But India has been demanding greater access to its products, services and manpower in developed countries, including a significant increase in the quota for H1B visas issued by the US administration for IT professionals.

Voicing these demands, the G5 declaration said the full integration of developing countries in world trade requires a fair, equitable and development-friendly multilateral trading system. The Doha Development Round must deliver real and improved market access to developing country products and services and also ensure meaningful results where the greatest distortions lie, eliminating export subsidies and bringing down the massive trade-distorting subsidies in developed countries. The objective must be to ensure that the rules-based multilateral trading system is fair, equitable and addresses the legitimate aspirations of the developing countries.

"We need to conclude this final stage of negotiations. The only way to achieve this in the foreseeable future is by upholding the mandates negotiated over the last seven years," the statement said. The conclusion of the modalities in agriculture and non-agricultural market access (NAMA) continues to be a necessary step in the negotiations, the declaration said. The December 2008 draft Agriculture and NAMA texts must be completed in line with the development mandate and their overall balance must be preserved, as they offer the only prospect for a timely conclusion of the Round. There is no scope for selectively reopening issues; any changes in one negotiating area will require adjustments elsewhere to preserve the balance and proportionality of the outcome, the declaration said. The G5 statement reiterated that the time had come to intensify dialogue among WTO members with a view to finding solutions to the remaining negotiating gaps.