\nHindu Business Line
\nNEW DELHI: India and Turkey will hold discussion in the first week of April on a dispute relating to a three-fold hike in import duty by the Turkish authorities on Indian cotton textile.
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\nThe talks, to be held in Geneva on April 6, will follow India’s r equest for mutual consultations within a framework of the World Trade Organisation (WTO). Under the WTO rules, the countries are expected to go for formal consultations for resolving a trade dispute before it is referred to the Dispute Settlement Bo dy (DSB) of the multilateral trade regulator.<\/p>\n
Turkey, to which India’s exports were worth over $239million in calendar 2014, increased import duty on Indian cotton products, including yarn, to 15 per cent from the bound rate of about 5 per cent. Between January and September, shipments were worth $1 12 million. \u201cTurkey has agreed to hold consultations with us under a WTO safeguard agreement,” an official said. However, India retains the option of going to the DSB if the issue is not resolved through bilateral negotiations, he said. \u2013 PTI<\/p>\n","protected":false},"excerpt":{"rendered":"
Hindu Business Line NEW DELHI: India and Turkey will hold discussion in the first week of April on a dispute relating to a three-fold hike in import duty by the Turkish authorities on Indian cotton textile.<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[1],"tags":[],"yoast_head":"\n