Korea to withdraw WTO complaint against Japan’s export curbs

0

SEOUL (Xinhua): South Korea’s trade ministry said Thursday that it will withdraw its complaint at the World Trade Organization (WTO) against Japan’s export curbs which Tokyo has agreed to lift.

Officials from South Korea’s Ministry of Trade, Industry and Energy held talks with their Japanese counterparts from Tuesday to Thursday about export management between the two sides, according to the ministry.

Based on the policy dialogue, the Japanese side decided to lift its export restrictions on South Korea.

South Korea agreed to withdraw its WTO complaint against Japan as soon as Tokyo enforces the lifting of its curbs.

The two sides also agreed to closely discuss ways to reinstate each other to their whitelist of trusted trading partners.

In July 2019, Japan imposed tighter control over its export to South Korea of three materials vital to make memory chips and display panels that are the mainstay of South Korea’s export.

In August of the same year, Japan dropped South Korea off its whitelist that gives preferential export procedures.

Leave A Reply

Your email address will not be published.