G-8 Summit: Agreements on trade deal by 2010; Climate change aspiration with emerging economies and $15bn to spur food production in poorer countries
Jul 10th, 2009 | By Finfacts Ireland Business & Finance Portal | Category: News worldwide
The G-8 - - Group of Eight - - summit of the leaders of rich countries, on Thursday agreed to conclude a comprehensive trade deal in 2010, in an attempt to revive the stalled Doha round and give a boost to the world economy. Meeting close to L'Aquila, Italy, which was struck by an earthquake last April, they also agreed with the Group of Five (G-5) large emerging economies, without setting targets, that the global climate shouldn't be allowed to warm by more than 2 degrees Celsius from pre-industrial temperatures. In addition the G-8 committed $15 billion over three years to spur food production in poorer countries.