EU Requests Establishment of WTO Panel Over Korean Shipbuilding Practices

Monday, June 16, 2003
The European Commission has requested the WTO's Dispute Settlement Body (DSB) to set up a Panel over the unfair Korean shipbuilding practices, at its next regular meeting of 24 June. This decision has been taken further to the failure of bilateral and or WTO consultations to reach an amicable solution to this long-standing dispute. EU Trade Commissioner Pascal Lamy said: "It is regrettable that Korea has shown no real will to resolve the issue in an amicable manner. In particular, we deplore the fact that Korea has failed to respect its commitments under the bilateral Agreement with the EU signed in June 2000 (the so-called Agreed Minutes). Furthermore Korea has made no efforts to find a solution during the three rounds of WTO consultations which have taken place since October 2002. This lack of progress has left us with no option but to take Korea to the WTO". The request addresses both the issue of export and actionable subsidies granted to Korean yards whether in the form of export financing by the government-owned Korean Export-Import Bank (KEXIM) or through restructuring subsidies (notably to Daewoo). Background In a Decision published in the Official Journal of the European Communities on 19 October 2002 (OJ L 281/15) the Commission announced the initiation of dispute settlement procedures against Korea under the relevant WTO provisions. The European Commission has now officially notified the WTO of its request for a Panel under Article 6 of the WTO Dispute Settlement Understanding.
Maritime Reporter August 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Shipbuilding

Ingram Barge Order 20 Tank Barges for 2015

Ingram Barge Company say they will be building 20 tank barges in 2015 to meet growing demand for chemical shipments. While most of the company’s recent tank barges have come through acquisitions,

ClassNK Issues New Rules for Inland Waterway Ships

Leading classification society ClassNK has released new technical rules and guidance for the survey and construction of inland waterway ships. As a result

Steel Cut for Third RCI Quantum-class Cruise Ship

The steel cutting for 'Ovation of the Seas', scheduled to be delivered in the autumn of 2016, took place at the Meyer Werft shipyard in Papenburg, Germany, where 'Quantum of the Seas',

Container Ships

South Carolina Ports Container Volume Up by 13%

SC Ports Authority reported container volumes up 13 percent fiscal year to date, a strong start to the first two months of the fiscal calendar. The SCPA handled 163,

Global Ship Lease to Acquire Containership

Global Ship Lease, Inc. has  announced  that it has agreed to acquire a 8,063 TEU containership from a leading container liner company for a purchase price of $55 million.

Maersk Sees US Approval of Shipping Alliance as Formality

U.S. regulatory approval of a proposed shipping alliance involving AP Moeller Maersk should be a formality, the Danish company's chief executive said on Wednesday.

 
 
Maritime Careers / Shipboard Positions Maritime Security Naval Architecture Navigation Pipelines Pod Propulsion Salvage Ship Repair Shipbuilding / Vessel Construction Winch
rss | archive | history | articles | privacy | terms and conditions | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.1542 sec (6 req/sec)