World Trade Organization's historic deal kills farming subsidiesDecember 21, 2015 - 10:34 AMT PanARMENIAN.Net - Countries in the World Trade Organization (WTO) have agreed to abolish subsidies on farming exports, BBC News reports. Developed countries agreed to stop the subsidies immediately and developing nations must follow by the end of 2018. The WTO, which represents 162 countries, called it "the most significant outcome on agriculture" since the body's foundation in 1995. But longstanding talks on other trade barriers were left unresolved at the end of the summit in Kenya. Removing agriculture export subsidies is intended to help farmers in poorer countries to compete more fairly. "The decision you have taken today on export competition is truly extraordinary," WTO chief Roberto Azevedo said at the closing session in Kenyan capital, Nairobi. The summit of ministers, which finished on Saturday after five days of talks, was the first to be held in Africa. The WTO called the farming agreement "historic", while the European Commission said it would be "good for fairer trade." "For those who had doubts, it proves the relevance of the WTO and its capacity to deliver results," EU Trade Commissioner Cecilia Malmstrom said. Kenya's Foreign Minister Amina Mohamed said the summit would be "remembered as having made that leap" from a time when the WTO was divided along a "developed and developing divide". It follows a WTO deal in July to cut tariffs on $1.3trn (£833bn) worth of technology products. Top stories Azerbaijani President Ilham Aliyev arrived in Moscow on April 22 to hold talks with Russian counterpart Vladimir Putin. Authorities said a total of 192 Azerbaijani troops were killed and 511 were wounded during Azerbaijan’s offensive. In 2023, the Azerbaijani government will increase the country’s defense budget by more than 1.1 billion manats ($650 million). The bill, published on Monday, is designed to "eliminate the shortcomings of an unreasonably broad interpretation of the key concept of "compatriot". Partner news | Ucom’s fixed network launches in Nor Hachn City residents will be able to use fixed-line Internet, mobile communications and television in one package at more affordable prices. Armenia parliament to consider draft proposal on impeachment June 17 The Armenian Parliament will hold an extraordinary session on June 17 to consider a draft proposal on the resignation of the government. Armenia to send Deputy Foreign Minister to Berlin’s Ukraine Recovery Conference Georgia will attend the forum at the level of Prime Minister, Foreign Minister, while Azerbaijan will send their Foreign Minister. About 173 million drams and more than 30 beneficiary funds. "The Power of One Dram" is 4 years old In June 2020, the exclusive joint corporate social responsibility initiative of Idram and IDBank "The Power of One Dram" was launched. |