Steel subsidy agreement text is set to be improved in a short while

Steel subsidy agreement text is set to be improved in a short while

A decision to prepare a further improved draft text for the steel subsidy agreement is made during the OECD meetings held between June 10-12 in Paris. This new text will be analysed during the ministerial meeting scheduled for July 16-18. India refused to participate in this week's meetings for the reason that it is not willing to agree on the current draft agreement, with the argument that the transitional counties should not be put in the same pot with the developed countries. The main aim of the OECD is to have an agreed text of an agreement before the global trade talks in Cancun take place in September. The outstanding issues are the requests to grant exceptions covering government support for research and development environmental protection and partial plant closures.