AIRLINK 172.37 Decreased By ▼ -3.36 (-1.91%)
BOP 13.27 Increased By ▲ 0.15 (1.14%)
CNERGY 7.39 Decreased By ▼ -0.15 (-1.99%)
FCCL 43.56 Decreased By ▼ -0.35 (-0.8%)
FFL 14.88 Decreased By ▼ -0.13 (-0.87%)
FLYNG 26.49 Decreased By ▼ -0.41 (-1.52%)
HUBC 129.61 Decreased By ▼ -0.62 (-0.48%)
HUMNL 13.22 Decreased By ▼ -0.12 (-0.9%)
KEL 4.43 Decreased By ▼ -0.07 (-1.56%)
KOSM 6.04 Decreased By ▼ -0.02 (-0.33%)
MLCF 55.40 Decreased By ▼ -0.63 (-1.12%)
OGDC 212.00 Decreased By ▼ -2.77 (-1.29%)
PACE 5.91 Decreased By ▼ -0.07 (-1.17%)
PAEL 41.02 Increased By ▲ 0.12 (0.29%)
PIAHCLA 16.20 Decreased By ▼ -0.12 (-0.74%)
PIBTL 9.58 Decreased By ▼ -0.17 (-1.74%)
POWER 11.50 Decreased By ▼ -0.26 (-2.21%)
PPL 178.00 Decreased By ▼ -3.48 (-1.92%)
PRL 33.39 Decreased By ▼ -0.83 (-2.43%)
PTC 22.77 Decreased By ▼ -0.29 (-1.26%)
SEARL 94.38 Decreased By ▼ -1.34 (-1.4%)
SILK 1.18 Increased By ▲ 0.04 (3.51%)
SSGC 34.86 Decreased By ▼ -0.59 (-1.66%)
SYM 15.85 Increased By ▲ 0.10 (0.63%)
TELE 7.79 Decreased By ▼ -0.08 (-1.02%)
TPLP 10.86 Decreased By ▼ -0.12 (-1.09%)
TRG 60.75 Increased By ▲ 0.25 (0.41%)
WAVESAPP 10.69 Decreased By ▼ -0.12 (-1.11%)
WTL 1.32 Decreased By ▼ -0.03 (-2.22%)
YOUW 3.76 Decreased By ▼ -0.01 (-0.27%)
BR100 12,027 Decreased By -27.1 (-0.22%)
BR30 36,259 Decreased By -208.1 (-0.57%)
KSE100 113,679 Decreased By -677.3 (-0.59%)
KSE30 35,038 Decreased By -309.1 (-0.87%)

Germany's powerful machine-tool makers' federation said Monday that China should submit to the same international trade rules as developed countries, rather than enjoy emerging-economy leg-ups.

China - the world's second-largest machine-tool exporter after Germany - has got away with "subsidy distortions and unequal market access" at the World Trade Organization (WTO), the VDMA industry body said. "In many areas China has long since ceased to be a developing country. Therefore, the same international trade rules must apply to China as to Germany or the EU," it added.

Subsidies allow Chinese firms to hide the true costs of production, the VDMA argues. It pointed to areas like the solar panel market, where cut-price surplus product from China flooded international markets and helped drive competitors out of business, notably in Germany.

Since joining the WTO in 2001, China has committed like other member states to inform the organisation of its subsidy schemes. "Practice shows that this is only done to a limited extent," the VDMA charged.

In future, reporting should be "sharpened and every non-notified subsidy must automatically be classified as market-distorting - combined with the possibility of countermeasures," the federation's international trade chief Ulrich Ackermann said.

Copyright Agence France-Presse, 2020

Comments

Comments are closed.