CEO Morning Brief

WTO Agrees to Form Panel to Review EU Import Duties on Indonesian Biodiesel

Publish date: Wed, 29 Nov 2023, 09:20 AM
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TheEdge CEO Morning Brief

JAKARTA (Nov 28): The World Trade Organization's (WTO) dispute settlement body has agreed to establish a panel to review countervailing duties imposed by the European Union (EU) on imports of biodiesel from Indonesia, the global trade body said late on Monday.

Indonesia has requested WTO dispute consultations with the EU regarding the bloc's imposition of duties on imports of biodiesel from the Southeast Asia nation in August.

However, after the consultation failed to reach an agreement last month, the world's biggest palm oil producer requested the WTO to establish a dispute settlement body, which the EU previously did not accept.

"Efforts to appeal this case to the WTO are very strategic to maintain market access for Indonesian biodiesel products in the EU market, which is currently subject to countervailing duties of 8% to 18%," said Budi Santoso, a senior official of the Indonesian Trade Ministry on Tuesday.

The countervailing duties were imposed for five years from Dec 10, 2019 to Dec 10, 2024, Budi added.

The Indonesian Biofuel Producer Association said the duties had been burdening the country's biodiesel exporters, and hoped for the WTO panel to immediately start the proceedings, the group's chairperson Paulus Tjakrawan told Reuters.

The WTO said late on Monday the US, the UK, Norway, Russia, Thailand, Singapore, Japan, Canada, China, Argentina and Türkiye had reserved their third-party rights to participate in the panel proceedings.

Source: TheEdge - 29 Nov 2023

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