WTO Says Saudi Arabia Requests Import Duties Consultations With EU

ZURICH (Pakistan Point News / Sputnik - 19th August, 2021) The World Trade Organization (WTO) on Thursday received Saudi Arabia's request for consultations with the European Union over the latter's temporary tariffs on monoethylene glycol, the trade regulatory body said.

On June 10, the EU implemented the provisional duties on monoethylene glycol from the United States and Saudi Arabia. Riyadh claims that the move runs contrary to the organization's Antidumping Agreement, and the 1994 General Agreement on Tariffs and Trade.

"Saudi Arabia has requested WTO dispute consultations with the European Union regarding a provisional anti-dumping duty imposed by the EU on imports of monoethylene glycol from Saudi Arabia. The request was circulated to WTO members on 19 August," the WTO said in a statement.

Monoethylene glycol is an organic compound used to manufacture polyester fibers and engine coolants.

Requesting consultations is the first step in the WTO dispute-resolution process. The parties are usually given sixty days to settle the issue. If the consultations fail, the complainants may ask the organization to form a panel of arbitrators who will consider the dispute.