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Argentina downplays WTO adverse ruling and considers possible negotiations with litigants

Saturday, January 17th 2015 - 08:03 UTC
Full article 93 comments
Capitanich considered “possible to establish bilateral negotiation criteria with the complaining countries, US, Japan and the EU, 'but in a context analysis' Capitanich considered “possible to establish bilateral negotiation criteria with the complaining countries, US, Japan and the EU, 'but in a context analysis'
WTO rejected Argentina’s bid to overturn a ruling that considered Argentine licensing rules were used to unlawfully restrict imports. WTO rejected Argentina’s bid to overturn a ruling that considered Argentine licensing rules were used to unlawfully restrict imports.

The World Trade Organization (WTO) ruling against Argentina triggers “no immediate modification” of the country’s trade administration, Cabinet Chief Jorge Capitanich pointed out adding a “comprehensive and detailed analysis of the ruling’s terms” is needed.

 In his daily message to the press at Government House, President Cristina Fernandez chief of ministers on Thursday considered “possible to establish bilateral negotiation criteria with the complaining countries – United States, Japan and the European Union -, but not without carrying out first an analysis of the context,” considering the financial crisis is still hitting hard on the global economy.

On Thursday, the WTO rejected Argentina’s bid to overturn a ruling in favor of the US, the EU and Japan in a case against Argentine licensing rules that the international body said have been used to unlawfully restrict imports.

Furthermore, the cabinet chief blasted “media operations” that report an “alleged lack of certain goods and supplies,” something he blamed “companies’ lack of planning or speculative actions” for. Shortfall of certain goods or supplies, he affirmed, is not a matter of restriction or import authorizations.

“Argentina is within the first ten countries that have increased imports the most over the past eleven years,” the ex governor of the Chaco province said stressing that the nations now battling against Buenos Aires at the WTO are those that receive complaints the most due to their own trade practices.

“Speculative attacks and foreign currency wars distort growth perspectives of the world economy and trade,” the head of ministers continued, denouncing a “structural crisis of the financial system” that began in 2008 prompting severe consequences since then.

“Except for 2009, in 2014 the lowest rate of global GDP growth was registered, with 1.8%, while in Latin American it was of 1 percent,” the official explained saying such scenario led to “difficulties in the financing of global trade.”

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  • golfcronie

    PMSL Why is it that Argentina cannot sit down at the negociating table prior to a ruling by the WTO or change the way they do business. You know it makes sense. He says they will talk to the complainants and try and resove it. RULES ARE RULES NOT NEGOCIABLE.

    Jan 17th, 2015 - 08:48 am 0
  • Conqueror

    I'm puzzled by this. If the WTO has found that argieland's import licensing requirement and other import restrictions breach international trade rules aren't they offences under international law? Where's the problem? Change them NOW in line with international trade rules. THEN argieland can sit down with the 'litigants' and work out how much compensation it has to pay. It isn't really a case of 'negotiation', it's more a case of whether argieland is prepared to pay what it owes for the adverse effects on the economies of the US, EU, Japan and so forth. Otherwise it should find itself in front of the ICJ.

    Jan 17th, 2015 - 10:41 am 0
  • ChrisR

    It is always as if the argies cannot understand English.

    But in reality of course they are just liers and crooks.

    Argentina will always be infested with Peronista lice, nothing will change.

    Jan 17th, 2015 - 10:55 am 0
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