ISLAMABAD, March 18: The G-20 ministers have agreed to allow a maximum period of five years for a complete elimination of all kinds of subsidies given by developed countries to their agriculture sectors. They further said that this period should be reduced in case of products of export interest for developing countries. Similarly, on domestic support subsides there should be actual cuts from the existing levels rather than the bound levels. An official announcement released by the commerce ministry here on Friday said the ministers also discussed ways and means to ensure market access for agriculture products, as maximum gains would come from this area. Commerce Minister Humayun Akhtar Khan said in the meeting that Pakistan’s main concern was to improve the economic condition of its farming community and strengthen the efforts being made for poverty alleviation.

“If developed countries eliminate subsidies on agriculture and dairy products, farm incomes can double in a short period, thereby sustaining the current growth levels and substantially reducing the poverty level in Pakistan,” he added.

The ministers carried out discussions to evolve a joint strategy to obtain meaningful results at the next WTO ministerial

conference.

The main focus of discussions was to ensure that trade-distorting policies in agriculture maintained by developed countries are eliminated. It was noted that although the G-20 had already successfully negotiated the elimination of export subsidies, a credible timeframe had yet to be determined.