Elimination of subsidy by the developed countries on agriculture sector will help Pakistani agriculture sector gain international market and give better return to the farmers of their yield.
Rawalpindi Chamber of Commerce and Industry (RCCI) President Hussain Ahmed Ozgen said here on Thursday.
"Pakistani agriculture will get higher price in the international market, as the developed countries have agreed to withdraw their one billion dollar subsidy a day to their farmers", Ozgen said while reacting to the World Trade Organisation (WTO) agreement for elimination of subsidy on agriculture.
He said it was victory of the developing countries as they succeeded in driving the issue in a right direction, and the rich countries agreed to eliminate export subsidies on farm produces.
"This will boost the morale of the farmers as they get better return of their yields besides strengthening the country's economy", he added.
He said with the removal of the subsidy, Pakistani milk producers would get a price benefit of two to three billion dollars, cotton growers would get 300 million dollars extra rates, sugar industry 100 million dollars extra and rice producers 200 million dollars.
Appreciating the efforts of the government, he called upon the government to plead before the international community for the cut in the trade tariff to help Pakistan penetrate in the international market through other sectors.
The RCCI President said that Pakistan was an agriculture-based country and that development would not only provide a further boost to the national economy, but also would also encourage the farmers and improve their living standard.