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India has sought consultations with Turkiye under the WTO’s safeguard agreement following Ankara’s decision to extend safeguard measures on polyester staple fibres.
In September, Turkiye decided to extend safeguard measures against imports of polyester staple fibres.
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“As a member having a substantial trade interest in the export of products concerned, India hereby requests consultations with Turkiye with a view to reviewing the information provided and exchanging views on the extension of the measures,” according to a communication of the World Trade Organisation (WTO).
It said that India would like to propose that consultations take place virtually on October 10 or 18 or on a mutually convenient date and time.
As per a provision of the Agreement on Safeguards, a WTO member country proposing to apply safeguard measures shall provide adequate opportunity for prior consultations with those members having a substantial interest as exporters of the product concerned, with a view to reviewing the information provided, exchanging views on the measure, and reaching an understanding on ways to achieve the objective set out in the agreement.
The consultations under this agreement do not fall under the WTO’s dispute settlement system.
India’s exports to Turkiye stood at USD 6.65 billion in 2023-24, while imports were USD 3.78 billion.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
First Published: Oct 14 2024 | 7:21 PM IS
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