1.4 The focus of the Hong Kong Ministerial Round was on agriculture and was held against the backdrop of wide differences among members on most of the major issues discussed in the Doha Round. Since then, the developing countries (G-20 and G-33) have continued to insist that developed countries, particularly the United States of America (USA) and the European Union (EU), carry out reduction in agriculture subsidies and tariffs, which had not yet been effected by them, despite having been directed to reduce and phase out all forms of export subsidies and carry out substantial reduction in trade distorting domestic support. During the course of Hong Kong Round of Trade Negotiations, the EU was persuaded to eliminate export subsidies by end 2013.
National Bank for Agriculture and Rural Development
