Agreement to abolish agricultural export subsidies reached

The World Trade Organization (WTO) ministerial meeting has concluded in the Kenyan capital, Nairobi, with an agreement to abolish agricultural export subsidies. After five days of meetings, the 162-member body said a breakthrough had been reached on the issue of farm export subsidies. Developed nations are now expected to get rid of their subsidies immediately, with developing nations slated to eliminate theirs from 2018. The Nairobi conference also set up a timetable for implementing an agreement on getting rid of import duties on 201 high-tech products.