Bridgetown, Barbados -- August 1, 2007 -- Agreement has been reached on procedures for extending the transition period of export subsidies of several developing countries.

After more than 16 months of extensive negotiations led by Barbados, the World Trade Organisation Committee on Subsidies and Countervailing Measures (SCM) had adopted a recommendation which sought to continue procedures for the extension of the transition period for the elimination of export subsidy programmes of 19 developing countries.

This recommendation was ratified at a recent meeting of the General Council.  The committee on SCM will continue to grant extensions of the transition period until the end of 2013, with a final phase out period of two years, which shall end no later than December 31, 2015.

Barbados, as Coordinator of the Small Vulnerable Economies, negotiated on behalf of Antigua and Barbuda,
Belize, Costa Rica, Dominica, Dominican Republic, El Salvador, Fiji, Grenada, Guatemala, Jamaica, Jordan, Mauritius, Panama, Papua New Guinea, St. Lucia, St. Kitts and Nevis, St. Vincent and the Grenadines, and Uruguay.

The Committee Chairman, Mr. Pablo Klein (Mexico), commended the "spirit of cooperation" among members that led to agreement.

Barbados’ Permanent Representative at the United Nations in Geneva, Ambassador Trevor Clarke, said that "the hallmark of this decision" was the help and understanding of other developing countries.

This decision allows the beneficiary countries to continue to promote various export subsides which attract investment, create employment and expand export capacity. In Barbados, these programmes include the Research and Development Allowance, Fiscal Incentives Programmes, Export Allowance, Societies with Restricted Liability and the International Business Incentives Programme.

Source: barbados.gov.bb