India, Turkey Plan Trade Negotiations

By Jim.Robinson|March 22, 2012

India and Turkey are attempting to solve their trade conflict, which revolves around special import duties on Indian cotton yarn.

The countries have planned a meeting in Ankara, Turkey’s capital, to negotiate the dispute, according to The Economic Times.

India filed a dispute under the settlement system set forth by the World Trade Organization. Turkey has continually imposed safeguard measures since 2008 that included raising import duties 15 to 20 cents. India cotton yarns producers have expressed concern about unnecessary restrictions, according to the article.

If negotiations fail after 60 days, India may request a selected WTO panel make a judgment.

Source: The Economic Times