07/29/08 WTO Update

WTO Update. I'm Greg Martin with today's Line On Agriculture. As you may very well know leaders from around the world are meeting in Geneva, Switzerland to discuss trade issues. The World Trade Organization has been attempting to come to an agreement that will help all countries involved. It has not been an easy task and has broken down many times. There has been speculation in the past that there would not be an agreement at all but negotiators are back at the table to pick up the pieces. WTO Director-General, Pascal Lamy says things are moving forward. LAMY: Since our Heads of Delegation meeting on Saturday, the Negotiating Group Chairs and I have been holding intensive consultations in various formats both jointly and separately over the last two days in order to progress our work. Our discussions have focused on the issues in Agriculture and NAMA other than those that were included in the package on key issues on which I reported to you Saturday morning. Besides saying that there has been progress Lamy also says there are no surprises. LAMY: Overall, I believe that through all of these efforts, we have registered very important progress. There is now a very high level of convergence on many subjects. However, we continue to operate on the basis of no surprises, and of reaching convergence in concentric circles of representation with a maximum of transparency, including through this open-ended HODs meeting. Nothing will be definitively agreed until everything is agreed. Tariff's may see are reduction according to Lamy. LAMY: With respect to in-quota tariffs, there is a broad understanding that tariffs at or below 5 per cent shall be eliminated. With respect to tariffs above 5 per cent, it is expected that there will be a 50 per cent cut or a reduction to a certain figure, yet to be agreed, whichever goes lower. There will be special provisions for developing countries. Where a product has been designated as a special product which is exempted from any cut in the out-of-quota range, the in-quota rate will similarly be exempt from any tariff cuts. All other tariff lines will be subject to a 15 percent cut. In the case of SVEs, the cut will be 7 percent. Lamy said the goal is to produce a further package on the next group of issues as soon as possible. That's today's Line On Agriculture. I'm Greg Martin on the Northwest Ag Information Network.