'We are committed to strengthening the multilateral trading system and view with great concern trends towards rising protectionism in developing countries,' the Group of 5, who are not G8 members, noted in a position paper submitted to the G8 summit in St Petersburg.
'The WTO (World Trade Organisation)is the sole forum for global trade and the majority of WTO members are developing countries and their interests must be at the heart of the current round of negotiations,' the Group of 5 said.
'The Doha Round is the best
The Group of 5 called upon the G8 countries to mobile financial resources for development through innovative mechanisms supplementing the commitment made at the United Nations International Conference on Financing for Development.
They also expressed concern at the impact of soaring energy prices and favoured the 'establishment of an international order that is fair, equitable, secure and stable to benefit the entire international community, encourage the development and use of alternate sources of energy to enhance sustainability.'
The position paper also supported a 'dialogue on energy capable of creating a political environment conducive to peaceful settlement of disputes.'
