Brazil and G-20 Pressure EU to End Farm Subsidies by 2013

After six days of tense negotiations and mounting pressure from developing nations and countries with export potential, the 6th Ministerial Conference of the World Trade Organization meeting in Hong Kong reached an agreement to end farm subsidies by 2013.

There was a general consensus that farm subsidies distort world trade and must be dealt with in order to create a more just international marketplace and level playing field for everyone.

But the counterpart to ending subsidies will be the opening of markets to manufactured goods, which was accepted by some Latin American and Caribbean nations only reluctantly.

Faced with the clear possibility of a total failure in Hong Kong, the G-20 – led by Brazil and India – decided to concentrate their efforts on getting the rich nations to agree to a date to end their farm subsidies.

What the G-20 really wanted in Hong Kong was an immediate end to the subsidies; after all an end to subsidies had been agreed on in principle in 2004.

Most of the 149 WTO members were pushing for a 2010 date, but the European Union refused that. In accepting the lesser offer, the G-20 avoided going home empty-handed and came away with a victory.

Agência Brasil

Tags:

You May Also Like

Boeing Crash: Brazilian Minister Says Legacy’s Transponder Was Off

Early analysis of the flight data recorders from two planes that collided in Brazil’s ...

Sky Is Falling over Varig

Varig will keep its name, but very little more, after its merger with TAM ...

Certification Is the Way to Internationalization, Brazil Concludes

More than 3,500 men and approximately 400 machines are already at work in the ...

Attorney General Says Brazil’s Biosecurity Law Is Unconstitutional

Brazil’s Federal Supreme Court (STF) received a petition of Direct Action of Unconstitutionality (ADI) ...

Brazil’s New Global Status Making Country Disdainful of Mercosur

According to former Argentine vice-president Carlos Alvarez, the Mercosur economic bloc can't find its ...

Only Iron and Soybean Bring More Foreign Money to Brazil than Tourism

Tourism was Brazil’s third largest source of foreign currency during the first seven months ...

Tropicí¡lia Brings to London Brazil’s Multisensory Garden of Eden

Tropicália: A Revolution in Brazilian Culture is a groundbreaking and vibrant exhibition which captures ...

In Brazil, Raul Castro Says He’s Ready to Discuss Cuba’s Embargo with Obama

Cuba's President Raul Castro says he is willing to discuss the 50-year-old US trade ...

Brazil Ready to Build Underwater Robot for Oil Exploration

The project of building a robot with 100% Brazilian technology, capable of operating both ...

After the Fall of 4 Ministers in 2 Months Brazilians Wonder Whose Head Will Roll Next

Brazil’s minister of Agriculture, Wagner Rossi, sent a letter of resignation to president Dilma ...