In your own words, explain Agreement on Agriculture (AoA).
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Oluwatobiloba Adenola
The Agreement on Agriculture (AoA) is an international treaty of the World Trade Organisation, established in 1995. It consists of three pillars; domestic support, market access and export subsidies.
The Agreement on Agriculture’s domestic support system currently allows Europe and the United States to spend $380 billion a year on agricultural subsidies.
Market access allows reduction of tariff or non-tariff barriers between WTO members to enable trade.
Export subsidies, the third pillar. The 1995 Agreement on Agriculture required developed countries to reduce export subsidies by at least 36% (by value) or by 21% (by volume) over six years. For developing countries, the agreement required cuts were 14% (by volume) and 24% (by value) over ten years.