WTO on Subsidies ?

Developing Countries Could Earn Three Times the Aid They Receive if Subsidies are Removed, WTO Says
Associated Press 2-7-02 http://www.tradeobservatory.org/showFile.php?RefID=17240

                The World Trade Organization said, “Developing countries stand to earn at least three times more in exports than the international aid they currently receive if developed countries drop domestic agricultural subsidies.”  Mike Moore, WTO general director said the easiest way to reduce poverty and increase employment in developing countries is to allow developing countries to export their goods to Western countries that presently provide subsidies to their farmers.  “If we removed those agricultural subsidies, that would return maybe three to five times more than all the overseas development assistance put together. This would return eight times more than all the debt relief," Moore said. "So the (anti-globalization) protesters should be protesting about agricultural subsidies not just about debt relief." A voluntary trust fund has been set up by the WTO to help developing countries strengthen their defenses.  The goal is to raise $9 million, and the U.S. has already pledge $1million.