Turkey and India held trade talks last month, following the decision of Turkey to impose safeguard duties on imports of cotton yarn from India.
India had formally lodged a complaint against Turkey with the World Trade Organisation (WTO) calling the move a contravention of WTO rules.
To resolve the issue, India had requested consultations under the dispute settlement system of WTO.
Turkey had agreed to hold consultations with India to arrive at a mutually acceptable solution to resolve the dispute.
Turkey had first imposed the safeguard duty in 2008 for a period of three years. In July 2011, it imposed provisional safeguard duty and later re-imposed the final safeguard duty.
“The discussions are going on. Till date, one round of consultation has taken place and Turkey is now supposed to revert back to India”, Mr Siddharth Rajgopal, ED – TEXPROCIL informed fibre2fashion.
“These proceedings take their own time and the onus is on Turkey to withdraw the safeguard duty on Indian cotton yarn, he said.
Fibre2fashion News Desk - India
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