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Argentina Stops China Anti-Dumping Probes After Failure to End Oil Spat
23/07/2010 12:00
Argentina will close two anti- dumping investigations into Chinese products a week after the presidents of the two countries failed to lift an embargo by the Asian nation on Argentine soybean oil imports.
The end of investigations into textiles and kitchen appliances, which started in early 2009, was announced today in Argentina’s official gazette.
China in April banned Argentine soybean oil imports in retaliation for anti-dumping probes on products ranging from elevators to textiles. Argentina is the world’s largest exporter of soy oil. Until the start of the embargo, the South American nation supplied about 75 percent of imports by the Asian country, the world’s biggest consumer of the edible oil.
President Cristina Fernandez de Kirchner failed to have the ban lifted during a visit to China last week, when she met President Hu Jintao. The two countries agreed to form a commission to look into the matter.
Exports of the oil to China generate an estimated $600 million of export tariffs and tax revenue for the Argentine government.
To contact the reporter on this story: Rodrigo Orihuela in Buenos Aires at rorihuela@bloomberg.net
The end of investigations into textiles and kitchen appliances, which started in early 2009, was announced today in Argentina’s official gazette.
China in April banned Argentine soybean oil imports in retaliation for anti-dumping probes on products ranging from elevators to textiles. Argentina is the world’s largest exporter of soy oil. Until the start of the embargo, the South American nation supplied about 75 percent of imports by the Asian country, the world’s biggest consumer of the edible oil.
President Cristina Fernandez de Kirchner failed to have the ban lifted during a visit to China last week, when she met President Hu Jintao. The two countries agreed to form a commission to look into the matter.
Exports of the oil to China generate an estimated $600 million of export tariffs and tax revenue for the Argentine government.
To contact the reporter on this story: Rodrigo Orihuela in Buenos Aires at rorihuela@bloomberg.net
By Rodrigo Orihuela - Jul 22, 2010
Source: www.bloomberg.com
Source: www.bloomberg.com
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