Brazil welcomes US 'step forward' on WTO farm talks
The US signaled its willingness on Wednesday to accept as a basis for negotiations a World Trade Organization proposal to limit trade-distorting farm subsidies to between 12.8 to 16.2 billion dollars a year.
By Agencies |
MANAUS: Brazil welcomed on Friday the US' agreement to negotiate on the basis of a WTO proposal to cut farm subsidies as a "step forward" in foundering global trade talks.
"It is a good step forward," said Foreign Minister Celso Amorim. "My reading is much like that of the (WTO) director general -- that negotiations can wind up rapidly with goodwill," Amorim said, before leaving Manaus to visit Haiti.
Brazil and India head the Group of 20 emerging countries, which is pushing the US and the European Union to open their markets to agricultural exports from developing countries by cutting tariffs and farm subsidies.
The US and the 27-nation EU are asking developing countries to open their markets to services and industrial exports.
The US signaled its willingness on Wednesday to accept as a basis for negotiations a World Trade Organization proposal to limit trade-distorting farm subsidies to between 12.8 to 16.2 billion dollars a year.
Until now, Washington has refused to accept a ceiling below 23 billion dollars.
But US officials said other nations must also move forward on farm, manufacturing and services to reach a comprehensive WTO deal.
The EU also has welcomed the US move on the farm issue, a main sticking point in the six-year-old WTO talks.
The Doha negotiating round, aimed at tearing down trade barriers, was launched in 2001 and was meant to have been concluded by 2004 with a new global deal to increase trade to the benefit of poor countries.
"It is a good step forward," said Foreign Minister Celso Amorim. "My reading is much like that of the (WTO) director general -- that negotiations can wind up rapidly with goodwill," Amorim said, before leaving Manaus to visit Haiti.
Brazil and India head the Group of 20 emerging countries, which is pushing the US and the European Union to open their markets to agricultural exports from developing countries by cutting tariffs and farm subsidies.
The US and the 27-nation EU are asking developing countries to open their markets to services and industrial exports.
The US signaled its willingness on Wednesday to accept as a basis for negotiations a World Trade Organization proposal to limit trade-distorting farm subsidies to between 12.8 to 16.2 billion dollars a year.
Until now, Washington has refused to accept a ceiling below 23 billion dollars.
ADVERTISEMENT
But US officials said other nations must also move forward on farm, manufacturing and services to reach a comprehensive WTO deal.
The EU also has welcomed the US move on the farm issue, a main sticking point in the six-year-old WTO talks.
The Doha negotiating round, aimed at tearing down trade barriers, was launched in 2001 and was meant to have been concluded by 2004 with a new global deal to increase trade to the benefit of poor countries.
Download
The Economic Times Business News App for the Latest News in Business, Sensex, Stock Market Updates & More.
The Economic Times Business News App for the Latest News in Business, Sensex, Stock Market Updates & More.
Download
The Economic Times News App for Quarterly Results, Latest News in ITR, Business, Share Market, Live Sensex News & More.
The Economic Times News App for Quarterly Results, Latest News in ITR, Business, Share Market, Live Sensex News & More.
ADVERTISEMENT
