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Korean govt complains to India over excessive import barriers

27/09/2019    50

 

The South Korean government filed complaint against the Indian government which has been levying second most import barriers on Korea.

The Ministry of Trade, Industry and Energy said that it held the 2nd Korea-India trade remedies cooperation meeting in Seoul on Thursday with the Directorate General of Trade Remedies under India’s Ministry of Commerce and Industry.

India imposed the second most number of 27 restrictive measures on Korean imports including chemical and steel products, following American goods. Among them, seven products have been under investigation, with six products including Korean chlorinated polyvinyl chloride (CPVC) and coated steel sheet under an anti-dumping probe and phenol under safeguard review.

Kang Myung-soo, standing commissioner at the Korea Trade Commission under the Ministry of Trade, Industry and Energy, speaks at the 2nd Korea-India trade remedies cooperation meeting held in Seoul on Thursday. [photo by MOTIE]

The Korean trade ministry requested the Indian government conduct a fair probe in compliance with the Indian law to minimize possible adverse impacts the restrictions could have on the trade of the two countries.

The two sides shared information on the progress of the investigations and both nations’ acts and regulations related to anti-dumping measures.

The trade ministry said the annual meeting with India would play an important role in enhancing transparency and fairness of trade remedy measures, which would result in strengthening alliance of the two nations and expanding bilateral exchanges. The 3rd meeting will be held in New Delhi next year.

Source: Pulse News

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