15 May 2013 21:32 [Source: ICIS news]
MEDELLIN, Colombia (ICIS)--Argentina has filed a new complaint with the World Trade Organization against EU rules for importing and marketing biodiesel, the WTO said on Wednesday.
The EU has 60 days to address Argentina's complaint, by explaining or changing its rules. After that, Argentina could ask the WTO to adjudicate, which could force the EU to change any practices declared illegal or eventually face trade sanctions.
"The objective of the action taken in Geneva is to assure that international norms guaranteeing equal access to the European market are respected," the Argentine government said in a statement.
European trade relations with Argentina have worsened since April last year, when President Cristina Fernandez de Kirchner seized control of oil firm YPF from its parent company, Spain's Repsol.
CARBIO, the country's biodiesel industry trade group, said it supported the action.
"CARBIO strongly believes that certain regulations of EU member countries do not allow the free sale or direct import of biodiesel giving unfair advantage," the group said.
"These [European] producers have proven to be inefficient and have installed a larger capacity than required by European consumption, falsely blaming imports as the cause of their structural problems," added CARBIO.
The EU has said it suspects Argentina of illegally dumping biofuel on the EU market, an allegation that Argentina says has left its producers running at half their capacity.
For the latest chemical news, data and analysis that directly impacts your business sign up for a free trial to ICIS news - the breaking online news service for the global chemical industry.
Get the facts and analysis behind the headlines from our market leading weekly magazine: sign up to a free trial to ICIS Chemical Business.
|ICIS news FREE TRIAL|
|Get access to breaking chemical news as it happens.|
|ICIS Global Petrochemical Index (IPEX)|
|ICIS Global Petrochemical Index (IPEX). Download the free tabular data and a chart of the historical index|
Asian Chemical Connections