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Eurosceptic Bloggers

Friday, November 18, 2005

Good News

It could be just a way to attack the USA, but it is none the less a welcome move.
The offer would suggest the removal of all exports subsidies for cotton in all developed countries, duty-free access for cotton imports by all developed and advanced developing countries and a substantial reduction of trade distorting domestic support for producers in developed countries.
It should not be forgotten that some of the most impoverished nations on earth are dependant on cotton exports for their hard currency.
Cotton represents 79 percent of Mali's exports, 65 percent of Benin's and 56 percent of Chad's.
Anything that makes their lives easier has to be welcomed. Not to mention the illogical cost to us taxpayers and consumers.
The EU's subsidies is the world's highest per kilogram of cotton-- up to 180 percent of the global price.
Why do I suggest it might be a ruse?
The US is a net exporter of cotton and the EU is the world's largest importer. The US heavily subsidizes its cotton growers, resulting in over-production, which in turn pushes down cotton prices in the international market.
This is a product where the sins of our cousins eye exceeds ours considerably. So maybe they are just trying to pass on the pressure to the USA.

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