Turkey withdraws safeguard duty on Indian cotton yarn .

Turkey has done away with the safeguard duty imposed on India cotton yarn following an agreement between the two countries. The safeguard duty, effective for a 3-year period beginning 4 August 2011, was lifted on 31 December 2012.

India had, in March last year, held consultations with Turkey and impressed upon them the serious breach of safeguard provisions of GATT and WTO Agreement on Safeguard Measures by illegally extending the duties after the original period for which the safeguard measure was put in place had expired.

Manikam Ramaswami, chairman of Texprocil, complimented the government for its proactive efforts in ensuring that Turkey withdrew the unjustified measures well before their official expiry by August 2014.

It may be recalled that these measures were an extension of an earlier safeguard measure imposed by Turkey against the import of cotton yarn for a period of 3 years from 14 July 2008.

Source : domain-b.com