IMMEDIATE NOTIFICATION TO THE COUNCIL FOR TRADE IN GOODS

OF THE RESULTS OF THE CONSULTATIONS UNDER ARTICLE 12.3

COMMUNICATION of the Republic of Korea

                                                              Isopropyl Alcohol                       

The following communication, dated and received on 25 May 2023, is being circulated at the request of the delegation of the Republic of Korea.

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Pursuant to Article 12.5 of the Agreement on Safeguards, the Republic of Korea (Korea) hereby notifies the results of the consultations with India held under Article 12.3 of the Agreement on Safeguards regarding the latter's safeguard measure on Isopropyl Alcohol.

The present document is without prejudice to Korea's right to suspend substantially equivalent concessions to the trade of India, pursuant to Article 8.2 of the Agreement on Safeguards, or any claim by Korea that the safeguard measure and India's adoption and implementation of the same violate the GATT 1994 or the Agreement on Safeguards.

Korea and India held consultations on 31 March 2023 virtually to discuss India's proposed application of a safeguard measure on Isopropyl Alcohol. The proposed safeguard measure was notified by means of document G/SG/N/8/IND/33-G/SG/N/10/IND/24-G/SG/N/11/IND/19 dated 3 February 2022.

Korea and India held consultations with a view to discussing the information provided in the above-mentioned document. Korea expressed concerns regarding legal inconsistences in respect of both procedural and substantive issues, including with reference to the determinations of increased imports, serious injury, causation, and the allocation of the quota levels. Korea also requested trade compensation for the adverse effects of the measure pursuant to Article 8.1 of the Agreement on Safeguards. However, Korea and India were not able to reach an agreement.