The Australian Dairy Industry Council (ADIC) has welcomed a historic commitment from 163 Members of the World Trade Organisation (WTO) to abolish all agriculture export subsidies.
Finalised at the tenth WTO Ministerial Conference in Nairobi, Kenya, the agreement broadly commits to the removal of export subsidies by developed members, with developing countries to follow.
ADIC chair Simone Jolliffe said that the agreement will benefit Australian dairy by further liberalising global trade.
“When activated, export subsidies have had a strong distorting impact on world trade by depressing global dairy prices,” Mrs Jolliffe said.
“The ADIC looks forward to reviewing the commitment in its entirety but expects the removal of export subsidies will benefit free and fair international trade in dairy products.”
The ADIC remains committed to working with Minister for Trade and Investment, the Hon. Andrew Robb and the Australian government to improve trade market access for Australia’s dairy exports.
Source: The Australian Dairyfarmer