Global Economy in the New Millennium: A Dynamic Context for Food and Agricultural Policies

Abstract

Many developing countries continue to suffer from insufficient economic growth and poverty. Food and agriculture are major elements for development, in particular in the least developed countries where they account for 35% of GDP. OECD countries are committed to the reform of agricultural policies towards more market orientation and trade liberalization, while recognizing that agriculture also fulfils societal functions. Support to agriculture in OECD countries in 1999 reached the same level as in 1987, thus offsetting the decline observed until 1997. The URAA has created disciplines in market access, export subsidies and domestic support; this constitutes progress, even if its impact has been limited. It is essential that domestic policy reform and trade liberalization be further enhanced, thereby improving the economic prospects of developing countries.

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Anderson

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Hoekman

and Martin

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