India, China Jointly Oppose Trade-distorting Agriculture Subsidies
31 August 2017 India and China, in a joint proposal to the World Trade Organization (WTO), have called for elimination of trade-distorting agricultural subsidies given by developed countries, the commerce ministry said on Thursday and reported on HindustanTimes.com.
The proposal, submitted on July 18, counters the efforts of some WTO member countries that are targeting the subsidies given by the developing economies to their poor farmers while letting the developed rich nations retain their huge farm subsidies.
“India and China jointly submitted a proposal to the WTO calling for the elimination — by developed countries — of the most trade-distorting form of farm subsidies,” the ministry said in a statement.
In WTO parlance, these subsidies are called as ‘Aggregate Measurement of Support (AMS)’ or ‘Amber Box’ support.
Read more at HindustanTimes.com.
Get The Newsletter Today!
