Brazil may ask WTO to consider new rules for agricultural subsidies

On Tuesday June 25, presidential spokesperson General Otávio Rêgo Barros said the government would defend reformation of the World Trade Organization (WTO) and may propose new rules for agricultural subsidies if more restrictive rules are approved for industrial subsidies.

“The Brazilian position is that the WTO reformation is necessary because its rules are decades old. Brazil can deal with anything, but if the rules for industrial subsidies become more restrictive, it will propose new rules for agricultural subsidies”, said Rêgo Barros, in a briefing to the press at the Presidential Palace.

The spokesman said he had no knowledge of whether any country would be willing to address the matter at this time.

“Nevertheless, it is our right, even by national sovereignty, to put our intentions, our definitions of the negotiations that will occur and, if we have to face decisions and negotiations from other countries, we will have to use the diplomatic and commercial tools that are normal in this type of negotiation”, he said.

The spokesman said that during the presidential entourage’s trip to the G20 meeting in Japan, a BRIC meeting will be held. He cited the fact that Brazil holds the presidency of Brics – also formed by Russia, India, China and South Africa – this year.

According to the spokesman, Bolsonaro begins his international trip on Tuesday and returns on Saturday. According to him, the Brazilian government wants to establish a deeper relationship with the G20 countries and others invited to the meeting.

Barros also mentioned a planned meeting with Chinese President Xi Jinping before the G20 meeting. He noted that China is Brazil’s “largest trading partner”, that Vice President Hamilton Mourão has been in China and that it is too early to plan another trip there for the second half of the semester.

The spokesman said further bilateral meetings could be confirmed during the trip, and that the government may also address issues related to the crisis in Venezuela during the turnaround.

Source: Reuters

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