AGL 34.48 Decreased By ▼ -0.72 (-2.05%)
AIRLINK 132.50 Increased By ▲ 9.27 (7.52%)
BOP 5.16 Increased By ▲ 0.12 (2.38%)
CNERGY 3.83 Decreased By ▼ -0.08 (-2.05%)
DCL 8.10 Decreased By ▼ -0.05 (-0.61%)
DFML 45.30 Increased By ▲ 1.08 (2.44%)
DGKC 75.90 Increased By ▲ 1.55 (2.08%)
FCCL 24.85 Increased By ▲ 0.38 (1.55%)
FFBL 44.18 Decreased By ▼ -4.02 (-8.34%)
FFL 8.80 Increased By ▲ 0.02 (0.23%)
HUBC 144.00 Decreased By ▼ -1.85 (-1.27%)
HUMNL 10.52 Decreased By ▼ -0.33 (-3.04%)
KEL 4.00 No Change ▼ 0.00 (0%)
KOSM 7.74 Decreased By ▼ -0.26 (-3.25%)
MLCF 33.25 Increased By ▲ 0.45 (1.37%)
NBP 56.50 Decreased By ▼ -0.65 (-1.14%)
OGDC 141.00 Decreased By ▼ -4.35 (-2.99%)
PAEL 25.70 Decreased By ▼ -0.05 (-0.19%)
PIBTL 5.74 Decreased By ▼ -0.02 (-0.35%)
PPL 112.74 Decreased By ▼ -4.06 (-3.48%)
PRL 24.08 Increased By ▲ 0.08 (0.33%)
PTC 11.19 Increased By ▲ 0.14 (1.27%)
SEARL 58.50 Increased By ▲ 0.09 (0.15%)
TELE 7.42 Decreased By ▼ -0.07 (-0.93%)
TOMCL 41.00 Decreased By ▼ -0.10 (-0.24%)
TPLP 8.23 Decreased By ▼ -0.08 (-0.96%)
TREET 15.14 Decreased By ▼ -0.06 (-0.39%)
TRG 56.10 Increased By ▲ 0.90 (1.63%)
UNITY 27.70 Decreased By ▼ -0.15 (-0.54%)
WTL 1.31 Decreased By ▼ -0.03 (-2.24%)
BR100 8,615 Increased By 43.5 (0.51%)
BR30 26,900 Decreased By -375.9 (-1.38%)
KSE100 82,074 Increased By 615.2 (0.76%)
KSE30 26,034 Increased By 234.5 (0.91%)

African cotton producers said on Sunday they planned to hand the World Trade Organisation a petition which calls for an end to cotton subsidies in rich nations and has been signed by two million people.
The Association of African Cotton Producers (APROCA) said it planned to deliver the petition to WTO members at a key meeting in Hong Kong this month and said that such subsidies threatened millions of lives on the world's poorest continent.
"The unfair cotton subsidies threaten the lives of 10 to 15 million African farmers and their families as well as the economies of the region," APROCA said in a statement at an Africa-France summit in Mali's capital Bamako.
"Africa lost more than $400 million between 2001 and 2003 because of the dumping of subsidised cotton," it said.
Benin, Burkina Faso, Chad and Mali - West African states whose economies depend on cotton - have said rich nations must halt export subsidies by the end of 2005 and drop 80 percent of other trade-distorting cotton subsidies by a year later.
The European Union has proposed that nations should agree to eliminate export subsidies the moment a broader new treaty on trade, currently under negotiation, goes into effect.
French President Jacques Chirac, in Bamako for the summit with heads of state from around Africa, on Saturday called on the United States to end subsidies to allow African growers the chance to compete fairly on the international market.
But the United States, the world's largest cotton exporter and the biggest subsidiser, has said rich nations can best respond to African producers' concerns by agreeing on a global deal to open up agricultural markets and cut farm supports.

Copyright Reuters, 2005

Comments

Comments are closed.