WTO extends transition period for export subsidies

WTO extends transition period for export subsidies

The World Trade Organization (WTO) Committee on Subsidies and Countervailing Measures announced on November 4, 2004 that it extended the transition period for the elimination of export subsidy programs of 19 developing countries by another year, i.e until the end of 2005. 19 countries are Antigua and Barbuda, Barbados, Belize, Costa Rica, Dominica, Dominican Republic, El Salvador, Fiji, Grenada, Guatemala, Jamaica, Jordan, Mauritius, Panama, Papua New Guinea, St. Lucia, St. Kitts and Nevis, St. Vincent and the Grenadines, and Uruguay. The Subsidies Agreement ensures for an eight-year transition period for most developing countries to lift export subsidies. However the Subsidies Committee may extend the transition period for these developing countries. The next regular meeting of the Committee is scheduled for April 14-15, 2005.