WTO members drop farm export subsidies
World Trade Organisation (WTO) members approved a plan to end export subsidies on farm products and cut import duties across the world, a key step toward a comprehensive global accord under discussion since 2001, trade officials said.
The deal approved by a consensus of the 147-nation body opened the way for full negotiations to start in September.
“Developed countries have recognised that agricultural trade with a heavy subsidy component is not free trade,” said Indian Trade Minister Kamal Nath.
But Nath said that the United States, European Union and other developed countries will also benefit by removing heavy agricultural subsidies from their budgets.
Good.
One Comment
Good luck getting the Frogs actually to conform to this. Without enormous subsidies there will be no French agricultural sector, except maybe a few luxury wine or cheese-making operations.