Agri subsidies breakthrough hailed

THE RECENT World Trade Organisation (WTO) round-the-clock meetings in Geneva have produced an “historic” breakthrough in the view of trade and customs specialists, Deloitte. “For the first time member governments have agreed to abolish all forms of agricultural subsidies,” said senior manager Andre Erasmus. “In addition, opportunities have been created for cotton trade in West Africa and throughout the developing world. “The member governments also agreed to launch negotiations to set new rules to streamline the trade and customs procedures.”