Farm subsidy issue plagues Cancun
Cancun: The fifth World Trade Organisation (WTO) ministerial meeting looks like it is headed for a stalemate with two groups, in which India plays a prominent part, hardening their stance. While a coalition of 21 is firm on the phase-out of farm subsidies by the advanced countries, another group is firmly opposed to the inclusion of Singapore issues on the third day today. Commerce and Industry Minister Arun Jaitley, together with the Trade Ministers of G-21, held a series of talks as arranged by the WTO's facilitator with the US and the EU on Thursday.

Jaitley said the idea was that the EU-US framework and the one by the G-21 will have to be discussed thoroughly before the Cancun Ministerial arrives at a decision on the modalities for launching negotiations on agriculture agreement by the end of 2004. Singapore minister George Yeo Yong-Bon, who acts as a facilitator on agriculture, will release on his own responsibility a new draft framework proposal for the agricultural negotiating modalities. Latin American countries too voiced their vexation on the costly agricultural subsidy policy of advanced countries, demanding action rather than words since slashing these subsidies would enable their farmers to compete fairly on the global market.
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