China ministers call on WTO for progress on farm subsidies in Doha talks
AFX News Limited-Xinhua
via Forbes
05.22.07
BEIJING (XFN-ASIA) - The Minister of Commerce Bo Xilai and Minister of Agriculture Sun Zhengcai sent a joint letter to the World Trade Organization (WTO) calling for progress in cuts in 'trade-distorting' agricultural subsidies by developed nations, the official Xinhua news agency reported.
'Effective cuts in trade-distorting domestic farm support by developed members must be achieved in real terms,' Xinhua quoted the letter as saying.
The letter was addressed to WTO chief Pascal Lamy, General Council chairman Muhamad Yacob, and chairman of the Special Session of the Committee on Agriculture, Crawford (nyse: CRD.B - news - people ) Falconer, Xinhua said.
Agriculture trade talks are a key part of the WTO's Doha Round of trade negotiations, and the WTO's developed members, particularly the US, have been under pressure to offer further cuts in domestic farm support to move the talks forward.
'For many years, due to the huge amount of trade-distorting domestic support provided by developed members, the world price for agricultural products has been artificially depressed, adversely affecting the livelihood of farmers in the developing countries,' Xinhua quoted the letter as saying.
It said the livelihoods of China's rural population of 740 mln people have been seriously effected by imported goods from developed countries that have benefited from subsidies and other trade-distorting support. It cited wheat, cotton, and soybeans as examples.
forbes.com
AFX News Limited-Xinhua
via Forbes
05.22.07
BEIJING (XFN-ASIA) - The Minister of Commerce Bo Xilai and Minister of Agriculture Sun Zhengcai sent a joint letter to the World Trade Organization (WTO) calling for progress in cuts in 'trade-distorting' agricultural subsidies by developed nations, the official Xinhua news agency reported.
'Effective cuts in trade-distorting domestic farm support by developed members must be achieved in real terms,' Xinhua quoted the letter as saying.
The letter was addressed to WTO chief Pascal Lamy, General Council chairman Muhamad Yacob, and chairman of the Special Session of the Committee on Agriculture, Crawford (nyse: CRD.B - news - people ) Falconer, Xinhua said.
Agriculture trade talks are a key part of the WTO's Doha Round of trade negotiations, and the WTO's developed members, particularly the US, have been under pressure to offer further cuts in domestic farm support to move the talks forward.
'For many years, due to the huge amount of trade-distorting domestic support provided by developed members, the world price for agricultural products has been artificially depressed, adversely affecting the livelihood of farmers in the developing countries,' Xinhua quoted the letter as saying.
It said the livelihoods of China's rural population of 740 mln people have been seriously effected by imported goods from developed countries that have benefited from subsidies and other trade-distorting support. It cited wheat, cotton, and soybeans as examples.
forbes.com