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WTO cotton decision to affect widely international trade |
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2004-6-29
The recent WTO disputes panel decision against United States cotton subsidies according to Trade Negotiations Minister Jim Sutton, could be far-reaching affecting the international trade.
Addressing the Deer New Zealand annual meeting in Taupo, he said, "We have not seen a text of the decision yet, as it is not officially available, but media reports on it make it clear that the panel result provides a useful clarification of WTO rules on agricultural subsidies."
Mr. Sutton said New Zealand had consistently worked for a reduction of trade distorting subsidies - both by using the existing rules and by seeking to negotiate new disciplines in the Doha Round.
Mr. Sutton stated that the United States was likely to appeal the panel decision, and a final result would not be out for at least a year.
"If the decision is sustained, we can expect it to have a direct impact in major subsidising nations.
We hope it will encourage the major subsidising countries to accept new disciplines, not just on export subsidies, but on other subsidy programmes as well,” he added.
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