Mexico is likely to seek intervention of the World Trade Organization as its talks with China over government aid to textile producers have failed, a spokesman of Mexico’s Economy Ministry has said.
Mexico is likely to seek intervention of the World Trade Organization as its talks with China over government aid to textile producers have failed, a #
Alleging that China is indulging in unfair trade practices by extending preferential benefits to Chinese clothing and textile businesses, Mexico lodged a complaint against China before WTO in October 2012.
Mexico is likely to seek intervention of the World Trade Organization as its talks with China over government aid to textile producers have failed, a #
Mexico alleged that Beijing was providing subsidies to its producers in the form of exemptions from income-tax, value-added taxes, municipal taxes, etc. Moreover, Chinese producers also benefit from direct fund transfer and debt forgiveness policies of Chinese Government, and also from discounted power charges, loan rates and land rights, which is against WTO rules.
Mexico is likely to seek intervention of the World Trade Organization as its talks with China over government aid to textile producers have failed, a #
As per the WTO rules, both countries have 60-day period to discuss and reach an amicable solution, before a dispute panel can be set up.
Mexico is likely to seek intervention of the World Trade Organization as its talks with China over government aid to textile producers have failed, a #
In its statement, the Mexican Ministry said that seeking establishment of a dispute panel under WTO is quite obvious where two member nations fail to reach an agreement during the consultation period.
Mexico is likely to seek intervention of the World Trade Organization as its talks with China over government aid to textile producers have failed, a #
The European Union, Honduras, Brazil, Guatemala, Australia, Peru, Colombia and the United States have shown interest in taking side with Mexico, but China denied allowing other countries to join the talks, the Ministry said.
Mexico is likely to seek intervention of the World Trade Organization as its talks with China over government aid to textile producers have failed, a #
This is the fourth complaint filed by Mexico against China in the WTO. Both Mexico and China are intense competitors in the US market and also vie each other for attracting foreign investment.
Mexico is likely to seek intervention of the World Trade Organization as its talks with China over government aid to textile producers have failed, a #
The 60-day period ends on December 15, after which a dispute panel can be set up by the WTO.
Mexico is likely to seek intervention of the World Trade Organization as its talks with China over government aid to textile producers have failed, a #
Fibre2fashion News Desk - India