Fonterra applauds WTO outcome in Nairobi

Fonterra welcomes the historic breakthrough at the World Trade Organisation meeting in Nairobi with the agreement to eliminate all agricultural export subsidies.

“This is good news for New Zealand dairy farmers. For years the use – or even the threat – of export subsidies have resulted in world dairy prices below their true level, reducing returns to dairy farmers,” said Fonterra Chairman John Wilson.

“Export subsidies have long been acknowledged as the most damaging form of subsidy and their removal from agricultural trade is a watershed for global trade. The elimination of export subsidies has been a goal that successive New Zealand Ministers and trade negotiators have worked tirelessly toward for decades.

“The Nairobi outcome takes global trade rules one essential step further towards a level playing field for dairy trade.

“Fonterra thanks Minister Todd McClay, lead negotiator David Walker, Vangelis Vitalis and the entire New Zealand negotiating team at Nairobi for their efforts in contributing to the outcome. We are also very appreciative of the central role New Zealand has played in chairing the agriculture negotiations in the WTO for over a decade,” said Mr Wilson.

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