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Home  » Business » Alphabet soup at WTO!

Alphabet soup at WTO!

Source: PTI
December 14, 2005 15:24 IST
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It was abbreviations galore at the World Trade Organisation meet here with key negotiators virtually launching an offensive loaded with short forms.

First, it was the Brazilian Foreign Minister Celso Amorim who said, "Agreement on SPs (Special Products)and SSMs (Special Safeguards Mechanims) had to be part of any development package."

Under attack from the United States on not improving its offer, European Union officials were not left behind and said LDCs (Least Developed Countries) will benefit from EU's extended GSP (Generalised system of Preferences) and TRQs (Tariff Rate Quotas).

The European officials attacked the US for offering CCPs (Counter Cyclical Payments) and Australians and Canadians for their STEs (State Trading Enterprises).

With number of groupings around and new ones emerging, Amorim, the lead spokesperson from G-20 asked Egypt who the G-10 (group of rich nations like Japan, Canada) were!

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