WTO Ministerial Conference Adopts Declaration in Nairobi

NAIROBI (Sputnik) — A World Trade Organization (WTO) declaration was approved in a formal vote at the ministerial conference in Kenya's Nairobi on Saturday.

The declaration is due to eliminate developed countries' agriculture export subsidies. The agreement also recognizes developing countries' right to special safeguard mechanism aimed at protecting their farmers.

The declaration draft, seen by Sputnik, stipulates that all WTO members "shall seek not to raise their export subsidies beyond the average level of the past five years on a product basis."

The declaration also enshrines different approaches to the Doha Development Agenda aimed at addressing the needs of less developed countries in their economic development. The agenda has long been debated between developed and developing nations over such issues as agriculture, services and tariffs.

Chairwoman Amina Mohamed officially declared the 10th WTO Ministerial Conference closed.

The economy ministers from over 160 states gathered on December 15 in Kenya's capital to hold the WTO's conference aimed to define the course of multilateral trade relations for the coming years.