The European Union and the US have agreed a joint proposal for farm trade reform that could help troubled trade negotiations move forward.
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The joint plan, which will be put to the full World Trade Organisation (WTO) membership later today [Wednesday], comes as WTO members try to make progress in the troubled Doha Round of free trade talks before next month’s key meeting in Cancun, Mexico.
The plan still needs approval from EU member states, but an agreement has been made in principle, said EU ambassador to the WTO Carlo Trojan.
Details of the plan were not immediately available, but it is believed to cover domestic support, export subsidies and market access.
A spokesman for the European Commission said the plan was a framework text that does not contain figures, reported Reuters.
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