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‘Trade-distorting farm subsidies must go’:
Context
- India and China jointly submitted a proposal to the World Trade Organization (WTO) calling for the exclusion of the most trade-distorting form of farm subsidies by the developed countries.
Why such proposal?
- The proposal is a prerequisite for consideration of other reforms in domestic support negotiations.
Importance of the proposal
- This is an important in the view of the ongoing negotiations for the upcoming 11th Ministerial Conference (MC) of the WTO to be held in Buenos Aires in December 2017.
- It counters the efforts by some countries to target the subsidies of the developing countries while letting the developed countries retain their huge farm subsidies.
