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Volume :13 Issue : 1 2006      Add To Cart                                                                    Download

The Effects of Eliminating Agricultural Support on GCC Countries

Auther : Reyadh Y. Faras

The failure of the WTOs ministerial meeting in (2003) was attributed to disagreement over a number of trade issues among which is the issue of agricultural trade liberalization. This raised concerns about the degree of disagreement among developed and developing members of the WTO. This study contributes to the literature by examining the structure of worlds agricultural markets, the agriculture agreement, and economic literature. Then, it empirically estimates the economic effects of liberalizing the agricultural sectors globally, with an emphasis on GCC countries. The study covers the effects on six agricultural products plus total agricultural imports by GCC countries. Results show that over the projected period (2002-2011) GCC countries suffer a welfare loss of about $10 billion and witness an increase in their imports of agricultural products by about $2.8 billion. These significant effects were attributed to the large dependence of these countries on imported agricultural products.

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