SME Times News Bureau | 09 Jan, 2013
Turkey has removed safeguard duty on imports of cotton yarn from India with effect from December 31, the Ministry of Textiles said in a statement on Tuesday.
The ministry statement said that a review was initiated by Turkey on 11th June, 2011 on definitive safeguard measures imposed on imports of cotton yarn from India and subsequently definitive findings were issued recommending continuation of the measures retroactively with effect from 15th July 2011.
"Consultations were held with Turkey on 12-13th March, 2012 in Ankara wherein inconsistencies in extending the measures through a provisional duty and various other procedural and legal lapses were highlighted," it said.
Following which a Memorandum of Understanding was signed between the Republic of India and the Republic of Turkey wherein it was agreed that Turkey would remove the definitive measure not later than 31st December, 2012.
