standing offer from Washington to reduce subsidies with its own moves in that direction. But Barroso said at a press conference following his meeting with Bush that the U.S. proposal was a "positive signal". He also stressed that the E.U. is committed to a successful round of talks, stating that the world needs positive economic news in light of high energy prices. Agricultural products from developing countries - a key industry for economic development - cannot compete with the low prices of farmers in industrialized nations, where an estimated 300 billion dollars a year is spent on domestic subsidies. But Barroso said at the press conference that there are other issues that need to be addressed in the Doha Round, not just agricultural subsidies. He named better market access and the protection of intellectual property rights as two others. "We have a common interest in opening up markets," Barroso said immediately following the meeting. ---SP 2258 Local Time 1958 GMT
