WTO agreement a big win
Wellington: According to New Zealand trade negotiator Tim Groser the World Trade Organization (WTO) deal negotiated in Switzerland over the weekend could slash farm subsidies by up to $70 billion a year.

The WTO agreement sets out the principles for a treaty that will cut subsidies and import duties worldwide. Groser also said that it will take "another year or so" of talks to tie down the loose ends.

According to Groser, "This is breaking the political back on some of the most sensitive, some of the most difficult issues and this is the big one for New Zealand, export subsidies. We've been fighting for 30 years to get this eliminated."
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