Following intensive negotiations, agreement was reached in Geneva in August 2004 on a framework setting out the general outline and content of the new World Trade Organisation, WTO, agreement. The detailed implementation of this framework is the subject of ongoing negotiation at technical and political level and is likely to conclude at the WTO ministerial conference in Hong Kong in December 2005. I am satisfied that the framework agreement secured the benefits to Irish farmers of the mid-term review of the Common Agricultural Policy and represents a satisfactory outcome from Ireland's point of view. My priorities for the further negotiations are to ensure that: the phasing out of all forms of export subsidies will be applied in parallel, as provided for under the framework agreement, and that the phasing-out period will be as long as possible; and Ireland's agricultural exports will remain competitive in the EU market as a result of the level of tariff protection that will apply on imports from third countries. My overriding objective will be to ensure that the terms of a new agreement can be accommodated without the need for further reform of the Common Agricultural Policy.