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Date: 29/10/2024

India’s polyester exports affected by Turkiye’s measures

India’s polyester exports have been impacted by Turkiye’s measures to extend safeguards on polyester staple fibres, it said during a recent bilateral consultation with Turkiye under the WTO’s safeguard agreement. India had sought consultations with Turkiye under the agreement following Ankara’s decision to extend safeguard measures on polyester staple fibres. India exported fibres worth USD 22.18 million during 2023-24 and USD 23.55 million in 2022-23. In September, Turkiye decided to extend safeguard measures against imports of polyester staple fibres. India’s overall exports to Turkiye stood at USD 6.65 billion in 2023-24, while imports were USD 3.78 billion. India has the option to propose retaliatory Customs duties equivalent to the value of export loss if the issue is not resolved through consultations, as per a report.
 
Source: Exim News Service: Geneva, Oct. 28



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