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WTO Canadian Dairy Result Great Christmas Present
WTO Canadian Dairy Result Great Christmas Present
The ruling that Canadian export subsidies are in breech of WTO rules is a great Christmas present for New Zealand dairy farmers, says Federated Farmers of New Zealand (Inc) President Tom Lambie.
The WTO Appellate Body has confirmed an earlier ruling that a dairy export scheme devised to replace a scheme ruled illegal by the WTO in 1999 is also illegal. New Zealand claimed that Canada was attempting to evade WTO export subsidies agreed in the Uruguay Round in 1995.
"This result emphasises the importance of the WTO rules based trading system, said Mr Lambie.
"While the result has been a long time coming, it is an important reminder to our subsidised competitors that WTO rules are not to be taken lightly.
"Canada's illegal export subsidies cost New Zealand around $35 million per year. Export subsidies exacerbate price differences, particularly in situations of surplus supply.
"The Federation
acknowledges Hon Jim Sutton, Minister of Agriculture and
Trade and officials for their pursing this case."
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