Implications Of The Agreement
Developing countries will be affected both as importers and as exporters. The impact on the latter was briefly discussed with a view to the erosion of preferential access agreements. The Far East is mainly a net importer of agricultural products. Only two countries in the region are considered the least developed and only a minority of countries in the region are members of the WTO. Their agricultural policy will therefore not be subject to the obligations of the agreement, but they will nevertheless be affected. The region earns little from agricultural products and most of them were outside the raw materials analyzed. Table 4.13 provides details of profits and losses, and the trade gap is expected to widen from $11 billion to $19 billion by 2000. In this section, we say the impact on world prices and trade of certain agricultural raw materials. The share of developing countries in world trade in the world of the United States is relatively small (25% of world exports in 1992), but their growing share in world imports of agricultural raw materials is increasingly important.