Monday 17th June 2013 the G8 summit of world leaders meets in Northern Ireland.
EU and US agree to launch negotiations on a trans-Atlantic trade deal worth £10bn to UK.
The breakdown of power at the G8 summit. (CNBC)
Trade is key to economic growth and job creation. But in late 2008, global trade saw its steepest fall since the Great Depression. More than four years on trade has still not fully recovered; trade growth fell to 2% in 2012 - well below the 20-year average of over 5% per year.
The European Union is currently negotiating free trade agreements with G8 partners, including Canada and Japan. The EU and US are on track to start negotiations shortly.
Together, they make up around a third of all global trade. An EU-US trade deal could add over £100 billion to EU GDP and over £80 billion to US GDP.
The rest of the world would benefit too, with potential gains of £85 billion worldwide. Overall, this trade agenda could create over two million jobs across the European Union.
Other G8 countries are negotiating ambitious trade agreements. For example, the United States is leading efforts on free trade with the Trans Pacific Partnership, which also includes Canada. Japan is scheduled to participate shortly.
If G8 countries complete all of their current and proposed trade deals it could boost the income of the whole world by more than $1,000 billion.
People dressed as the leaders of the G8 countries take part in a photocall to raise awareness about the global hunger crisis in front of the Belfast City Hall, Northern Ireland, ahead of the G8 Summit.
The leaders they are dressed as are (L-R) U.S. President Barack Obama, Italy’s Prime Minister Enrico Letta, Japan’s Prime Minister Shinzo Abe, Britain’s Prime Minister David Cameron, France’s President Francois Hollande, Russia’s President Vladimir Putin and Canada’s Prime Minister Stephen Harper.
The IF campaign’s ‘G8 heads’ have made their most dramatic appearance yet, sailing into Lough Erne on a flotilla of longships bearing the message ‘End Tax Dodging’. A very visible reminder to the world leaders meeting nearby that we need them to take decisive action during their two-day summit.
Keep up with the latest developments on our IF@G8 live blog:http://enoughfoodif.org/g8/blog
US President Obama arrives for G8 Summit in Northern Ireland
US President Barack Obama and his family arrive at 38(Irish)Brigade Flying Station, Aldergrove in Northern Ireland for the G8 Summit being held at the Lough Erne in Co. Fermanagh. The President was met by Lord Leiutenant Joan Christie, Minister of State for Northern Ireland Mike Penning, Arlene Foster MLA and Michelle O’Neill MLA.
Learn more at www.gov.uk/g8