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WTO unveils compromise proposals for final Doha Round deal |
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08:08, July 18, 2007 |
The World Trade Organization (WTO) circulated to its members on Tuesday compromise proposals on agriculture trade and industrial market access as a last attempt to save the long-stalled Doha Round free trade talks.
According to the proposals, the United States must substantially cut its trade-distorting farm subsidies by 66 percent to 73 percent to a level between 13 billion U.S. dollars and 16.4 billion U.S. dollars.
The United States currently insists that its annual cap for farm subsidies should be as high as 17 billion U.S. dollars.
The proposals also demand that the European Union reduce its agricultural tariffs by up to 73 percent, while major developing countries like Brazil and India should also offer greater market access for industrial products.
The proposals, in the form of two papers, were circulated by the WTO''s agriculture negotiations chairperson Crawford Falconer and non-agricultural market access (NAMA) chairperson Don Stephenson respectively.
They were said to be based on the 150 WTO member governments'' latest positions in the negotiations.
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