December 22, 2005 -- The World Trade Organization (WTO) meeting in Hong King has agreed to end farm export subsidies by the year 2013.
Organizers say the closing agreement is a modest achievement but the package keeps alive hopes of a major trade liberalization deal on agriculture, industrial goods and services by the end of next year.
The pact sets an end date of 2013 for farm export subsidies and is said to bring relief to some struggling African cotton producers.
Under the plan, by 2008 rich countries would grant free access for at least 97 percent of exports produced by the world?s poorest nations.