End export subsidies: G20

G20 on Saturday sent out a strong signal to developed countries demanding that they end export subsidies in five years and cut domestic support to agriculture.

A five-page declaration adopted at the end of the two-day ministerial meeting said, “G20 calls for substantial reductions in trade distorting domestic support and elimination of export subsidies in agriculture within five years, with front loading commitments”.

Announcing the decision, Commerce Minister Kamal Nath told a joint press conference that eliminating of export subsidies was crucial as it created artificiality of prices denying market access to developing countries.