Government enacts agreement to eliminate agricultural export subsidies for WTO members

On the 29th, the government published a decree to promulgate the Nairobi Ministerial Decision on Export Competition, which defines the commitment to eliminate subsidies on foreign sales of agricultural products to members of the World Trade Organization (WTO).

Subsidies help governments to lower production costs. The commitment was agreed upon by members at the 10th WTO Ministerial Conference on December 19, 2015.

“It is worth remembering that Brazil played an important role in articulation during the negotiations that culminated in the Ministerial Decision, the content of which is capable of stimulating competition and bringing about gains in competitiveness for Brazilian agricultural exports,” said the Presidency.

Also according to the communiqué, the decree aims to complement the formalities necessary for the Nairobi Decision to take effect at the domestic level, as it is known, after its approval by the National Congress.

Source: G1

To read the full original article, visit the link:

https://g1.globo.com/economia/agronegocios/noticia/2021/09/29/governo-promulga-acordo-que-elimina-subsidios-a-exportacao-agricola-para-members-da-omc.ghtml

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