Robert Zoellick has also asked Japan and EU to cut their subsidies on agricultural production accordingly.
From LYMEC side we believe that this a small step in the right direction. We welcome the initiative and hope it will lead to a real reform and abolishment of the illiberal and protectionist Common Agricultural Policy (CAP).
The CAP is an obstacle to the EU enlargement and the CAP as such is counterproductive on a number of areas. Furthermore it occupies a huge part of the EU budget every year. As the IMF and the WTO have rightfully pointed it out the CAP excludes the developing countries from getting into our markets.
LYMEC therefore welcome the signal from the US and encourages the EU, Japan and US to effectuate the signal and reduce the agricultural subsidies.
Furthermore LYMEC demand the EU leaders to create a basis for a real reform and abolishment of the CAP. The CAP remains a protectionist and plan-economic element that slows down European growth and not only puts limits on the EU budget, but also exclude our markets from free and fair trade.