SPECIAL SAFEGUARD MECHANISM FOR DEVELOPING COUNTRY MEMBERS

SUBMISSION BY THE G-33^[1]

Ministerial Decision of 18 December 2015, Nairobi, Kenya

The following Joint Proposal, dated 18 November 2015, is being circulated at the request of the aforementioned supporting Members.

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The Ministerial Conference,

Having regard to paragraph 1 of Article IX of the Marrakesh Agreement Establishing the World Trade Organization (the "WTO Agreement");

Desiring to amend the Agreement on Agriculture to provide for [additional special safeguard mechanisms for developing countries];

Acknowledging the need to safeguard developing country Members from the heightened volatilities and instabilities in agriculture since the global food crisis in 2008 due to increased vulnerabilities to natural calamities and the trade distortions induced by high subsidization and export measures that curtail the productive capacities of these Members, reverse their development gains, hinder competitiveness and realization of their full potential;

Noting that greater stability and sustainability in investment, production and trade in developing country Members benefits all including producers, traders, and consumers which drives global demand for goods and services and propels global growth and development;

Having regard also to paragraph 42 of Annex A of the "July Framework" adopted by the General Council^[2] in August 2004 and paragraph 7 of the Hong Kong Ministerial Declaration in December 2005^[3], in particular the mandate to establish a special safeguard mechanism, herein after referred to as the "SSM", for developing country Members based on price and quantity triggers;

Recognizing the critical importance of instituting an accessible and effective trade remedy tool, i.e. the SSM, that is responsive to the needs and conditions of developing country Members in addressing volatilities and instabilities causing import surges and price depressions which, if not immediately and effectively addressed as they occur, undermine poverty reduction efforts, livelihood and food security, and rural development in developing country Members;