Uhh, finally i have decided to write on this, after days of research,i found that i was getting deeper into the Excess Information Trap.

What is this meeting all about?
Simply put,the Developed world( Read US and the EU) wants the developing world to do away with the Tariffs on agriultural goods, which the Developing countries enforce to protect their farmers against cheap imports. The Developing world( Read India,China) wants the Developed nations to do away with the Subsidies which they dole out for their farmers

Are all Developing countries agains the removal of Tariffs on Imports?
No,Although a part of the developing block, Brazil, Uruguay wants the developing countires to do away with the Tariffs, because of their vested Interests in agricultural exports.( This is excluding US and EU)

Subsidies to US and EU farmers?

Yes, you are reading it right, US and the EU does give subsidies to its farmers. And these are Multi Billion Dollar Subsidies doled out. Subsidy amounts that is greater than the GDP of some of the Third World Countries.

Why this Subsidy?

Farmers on an average hold about 200 hectares of land to the 1 hectare average that an Indian Farmer holds. Now these US farmers although they hold this much amount of land cannot bargain for a price as they deal with all Big Retail Giants like Wal Mart, who buy in huge qunatities and stock it up. Now the US governmnet or for that matter any Government cannot force the Corporate Giants to increase their prices,so they allow the farmers to sell at low prices and then give huge subsidies to the farmers to compensate for the loss.

Current Scneario:

There is now a deadlock with the US n EU not agreeing to reduce on the subsidies and India n China refusing to do away with the Tariffs, to protect their poor farmers, who are still in the Dark.

My Take:
My humble opinion on this would be that India and China have got it spot on. Liberalizing the service sector and liberalizing agriculture are 2 different things altogether.While the former does have corporates running the show, the latter consists of lot of powerless Individuals. Liberalization of course should happen, but before that either of the 2 mentioned below must happen
A) Governement must make farming a viable business and educate the farmer or B) The US n EU must do away with the subsidies, so that the farmers of the Developing world are not at any significant disadvantage compared to their peers.

Which of the 2 will hapen first? Well, Ur guess is a good as mine

P.S:I will call this Only an Intro article, More on the Subsidies given on Cotton, Rice, Soya, Brazil's win over US in the Cotton Issue and other details coming soon.