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.

He described the EU offer as a serious one.