EU subsidy offer not ‘one-way street’

THE offer made by the European Union on agricultural subsidies and tariffs before the Hong Kong world trade summit is part of a negotiation, EU Trade Commissioner Peter Mandelson made clear in Pretoria, South Africa.

He also stressed that this negotiation cannot be a one-way street or a deal in which Europe is the sole banker.

“We are looking for others to match our offer with movement in industrial goods and services,” he said.