jan 1, 2014 - WTO Abolishes Agricultural Export Subsidies

Description:

- World Trade Organisation and all 163 members sign an agreement to remove the implementation of export subsidies (policies to encourage export of goods) for agriculture industries.
- Designed to maintain fair trade amongst trading countries of the WTO, with no nation having advantages when exporting agricultural produce.
- This both benefitted and disadvantaged Australian agricultural producers by having them with less competition internationally, however, without government support.
- It has partly slowed down production of agricultural produce and hence, disrupted the Australian export industry, not helped by droughts.

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