ECONOMY

WTO to Propose New Agriculture Package

The World Trade Organization (WTO) is likely to draft a revised text for an agriculture package to break the deadlock in farm talks at the meeting. Possible deliverables on improved transparency, including the advance notice for export limitations, exemption from export restrictions for the UN World Food Programme, can be part of the package.


The package comes after talks on farm subsidies got stuck as China, India, the African Group, and the Caribbean and Pacific countries insisted that trade-distorting support given by developed countries be checked first. On subsidies for public programmes, differences remain to expand the peace clause to all developing members and new products. The peace clause protects the food procurement plans of developing countries against action from WTO members if the subsidy ceilings of 10 per cent of the value of food production are breached.

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