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.... ....   Home  |  Cover Stories  |  National Newsreel  |  Politics  |  Business  |  Sports  |  World  | Contact  | Advert Rates  Towards a better life for the people Search The Archives   Cover Stories National News South West Niger Delta South East North Politics Business Sports World Viewpoints Features   WTO:Nigeria makes case for access to foreign markets Wednesday, August 04, 2004 ABUJA— NIGERIA welcomed yesterday the recent agreement on agricultural subsidies at the World Trade Organisation but called on rich nations to do still more to open their markets to Third World farmers. “We are very happy that there has been a breakthrough ... The talks were about to collapse,” Finance Minister, Ngozi Okonjo-Iweala said on the sidelines of a meeting with business leaders. “The fact that they’ve agreed to reduce subsidy by 20 percent is a beginning. Of course, we are not completely happy. We would like to remove most of the subsidies to the effect that there will be open trade,” she said. “So let us say that this is the beginning of a trade deal and we would like the developed countries to do even more, but we are happy they agreed,” the former World Bank vice-president explained. At the weekend, delegates to a WTO meeting in Geneva salvaged global trade talks with a compromise deal on reducing the huge subsidies paid to farmers in the United States and Europe. Nigeria, Africa’s most populous country, was one of a group of 20 developing countries whose opposition to rich-world subsidies contributed to the collapse of last September’s WTO ministerial summit in Cancun, Mexico. Okonjo-Iweala was speaking during a visit to her country by the managing director of the International Monetary Fund (IMF), Rodrigo de Rato, who told business leaders that he also welcomed the WTO agreement.   Home  |  Cover Stories  |  National Newsreel  |  Politics  |  Business  |  Sports  |  World  | Contact  | Advert Rates © 1998- 2004. Vanguard Media Ltd.

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