Towards Equal International Commercial Relations

The global economic and financial crises that have been taking place affected all the countries of the world; the northern and southern parts of the globe and the rich the poor people. As the world encountering challenges in energy security, food security and climate challenges caused natural disasters in different regions of the world and threat the living conditions for humanitarian communities. This requires a unified encountering to the global challenges including the economic crises by the international community. Many countries do not trust the global trading system because of the recession in the global economy and what some countries achieved at the developmental level.

Some experts in the Global Trading Organization found that economic crises that occurred caused a reduction to the trade volume which was estimated more than 10%. The Global Trading Organization has been observing the development of economic policies of some countries in order to guarantee the transparency and easy commercial traffic between countries.

Unemployment crises spread all over the world as a result of the global economic crises which caused protests and uprisings in some countries including Arab countries. International Labour Organization announced that the rising level of unemployment caused social suffering which may affect the development in some poor countries.

The current challenges require achieving the good ruling at the level of financial policies. This requires a joint international action to improve the systems of financial institutions and accounting basis of such institutions.

The economic and financial crises forced the international system to extend its efforts. For this such topics are not discussed during the meetings of the Great 8 while the Great 20 which has a membership of rich and developing countries reassured the importance of encountering the global food crisis and increasing investments in agriculture to increase food production.

G20 represents an international legislative body and reflects the reality of political geography. The triangle of global commercial riling includes G20, international organizations such as GTO, and 192 member states of the United Nations.

The economic triangle offers a better formula to the world to reassure its credibility towards the issues. We need a new formula to the G20 in which it realizes that the United Nations as an international parliament can question it until we achieve the good ruling at the global level.

The international community cannot bear more failure in its current economic challenges. This requires reinforcing the economic policies by an international determined leadership.

The first step to achieve sustainable development, which secures the future of coming generations, requires reaching conclusions and positive results to the commercial negotiations.

The G20 are demanded to achieve two goals; first, an agreement on working groups at the level of various negotiation groups. Second, Discussing the controversial topics in the commercial negotiations depending on what has been achieved.