Benefits and challenges facing Asia-Pacific agricultural trading countries in the Post-Uruguay Round period

Abstract

<p>The publication focuses on the implications of the General Agreement on Tariffs and Trade (GATT) of the Uruguay Round Agreements on Agriculture for major agricultural commodity countries of the ESCAP region. It examines the policies these countries should follow to maximize the benefits emerging from the agreements on reductions in barriers against agricultural commodity imports and in subsidies on agricultural exports, as well as from the agreed reductions in domestic supports for agricultural production. The study also explores the question of the benefits to be gained from cooperative action on a regional basis. Furthermore, it analyzes the likely changes in the terms of trade for ESCAP countries, in investment flows, in productivity gains, and in the potential for increases in exports. Given that, even after the full phase-in of the agreements, significant trade barriers against agricultural commodities will still remain, the study examines the incentives for these countries to engage in individual or collective action. The study presents data showing agricultural patterns of major agricultural exporting countries in the ESCAP region and details on the bilateral flows in the trade of selected commodities, particularly of rice, wheat, cotton, vegetable oils and fruits and vegetables&nbsp;</p>