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EU, Brazil Announce Proposals On Farm Subsidies

by Ulrika Lomas, Tax-news.com, Brussels

18 July 2017


The EU and Brazil have put a joint proposal to the WTO that would limit trade-distorting farm subsidies in proportion to the size of each WTO member's agricultural sector.

According to a press release from the EU, the aim is to limit market distortions, and to ensure a global level-playing field for farmers, while taking into account the particular needs of developing countries. If successful, the proposal would implement the mandate from the 2013 Ministerial Conference to reconcile existing public practices with WTO subsidy rules.

The proposal recommends that the least developed countries should be exempted from any subsidy limits, to allow for the development of their farming sectors. Other developing countries would be given more time to adapt their regulations.

Colombia, Peru, and Uruguay have expressed their support for the initiative and are co-sponsors of the proposal. The EU said that agricultural domestic support is an important issue in the negotiations leading up to the 11th WTO Ministerial Conference, which will take place in Buenos Aires this December.

EU Trade Commissioner Cecilia Malmstrom said: "Together with Brazil and other countries we are demonstrating our staunch support for a global trading system based on rules, at an important time for the World Trade Organisation. Our proposal is at once ambitious and realistic. It will ensure that we can have forward-looking and hopefully successful negotiations on this important issue in Buenos Aires."

TAGS: Uruguay | World Trade Organisation (WTO) | Colombia | Brazil | Peru | import duty | regulation | trade | European Union (EU) | Europe

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