Thursday, October 25, 2012
Earlier this week,the World Trade Organization (WTO) Committee on Subsidies and Countervailing Measures approved the final extension of the transition period until the end 2013 for export subsidy programmes of 19 developing countries. These programmes consist mainly of free trade zones and tax incentives. The beneficiary countries include: Antigua and Barbuda, Barbados, Belize, Costa Rica, Dominica, Dominican Republic, El Salvador, Fiji, Granada, Guatemala, Jamaica, Jordan, Mauritius, Panama, Papua New Guinea, St. Kitts and Nevis, St. Lucia, St. Vincent and the Grenadines and Uruguay. These states are urged to adopt legislation to phase out these subsidy programs.
At the same meeting, the Committee Chair expressed concern that 73 states have not submitted their 2011 subsidy notifications.
In other WTO news, the Dispute Settlement Body (DSB), established two panels this week. One panel is to examine a complaint by the United States against China'santi-dumping and countervailing duties on US automobiles. The second is established at the request of the European Union to examine whether the US had complied with DSB recommendations in the Boeing dispute. It will consider the EU's request to take countermeasures for $12 billion against the US.