World Trade Organization, or WTO, reached a groundbreaking accord in Kenya on Saturday which obliges developed countries to eliminate subsidies for their agricultural exports as requested by the least developed nations to protect their farmers.
More than 50 members of the World Trade Organization signed an agreement on Wednesday to remove import tariffs on 201 information technology products, marking the first major global tariff-cutting deal in 19 years.
The European Union and Brazil representing Mercosur (Argentina, Brazil, Paraguay and Uruguay), are proposing the World Trade Organization agree to end agricultural export subsidies at a meeting next month. The proposal backers also include New Zealand.
The United Kingdom and Brazil reaffirmed on Friday their support for the success of the European Union/Mercosur Association agreement negotiations in the framework of the eighth meeting of the UK-Brazil Joint Economic and Trade Committee (JETCO) which emphasizes bilateral cooperation and initiatives.