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EU leads the way against South Korea’s subsidies

Brussels - The European Union has joined Japan in trying to resolve the shipbuilding subsidies’ issue in South Korea

Brussels - The European Union has joined Japan in trying to resolve the shipbuilding subsidies’ issue in South Korea.

EU’s and South Korea’s representatives have met to discuss the South Korean shipping and shipbuilding state subsidies measures in the context of the EU - South Korea Free Trade Agreement (FTA) implementation.

The European Community Shipowners Association, ECSA, welcomes this discussion “welcome these discussions, as European shipbuilding and maritime equipment industry and European shipowners, need a global level playing field and benefit from fair trade and competition as well as open markets.”

On November 20th, the EU has notified the World Trade Organisation that it wants to join Japan’s consultations with South Korea on measures adopted by South Korea that affect trade in commercial vessels. Japan considers that certain measures taken by South Korea related to state aid measures, are inconsistent with its obligations under the WTO Agreement on Subsidies and Countervailing Measures (ASCM) and the GATT 1994.

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