Compromise reflects great leap forward and comes about through show of unity
Developing countries led by Brazil and India have accepted a compromise to end agricultural export subsidies in 2013 in a move aimed at maintaining the momentum of global trade talks post-Hong Kong.
The loose grouping of developing nations comprising members of the G-20, G33 and G90 had been pushing for a 2010 end to subsidies that are regarded as some of the most distorting to global trade.
But Brazilian Foreign Minister Celso Amorin said the compromise reflected a 'significant step forward' in an area of most concern to farmers in the developing world.
'Not only do we have an end-date for the subsidies but we have an agreement on all forms of export subsidisation, the substantial part of which will be completed by 2010,' Mr Amorin said.
Likewise, Indian Trade Minister Kamal Nath said the significant gains for the developing world had come about through a show of unity throughout the Hong Kong ministerial conference.