PARIS, May 4 (Xinhuanet) -- Five major trading countries reached an agreement on Wednesday over the mechanism for calculating agricultural import tariffs, clearing a major obstacle in the Dohafree trade round negotiations, an EU spokesman said.
European Commission spokesman Michael Mann said that the five, the United States, the European Union, Brazil, Australia and India,have reached an agreement on the formula for calculating AVEs (ad valorem equivalents).
However, the proposed mechanism still needs to be put to the around 24 trade ministers attending a meeting in Paris. Enditem
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