Indecopi will announce if safeguards are applied to textile imports at the end of June
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The Ministry of Foreign Trade and Tourism (Mincetur) announced today that Indecopi will complete the investigation into the application of safeguards to textile imports by the end of June at the latest.
On that date, a final report will be issued which will determine whether or not to recommend the application of safeguard measures, after Indecopi will announce the start of investigations on December 24, 2021.
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However, it is possible that Indecopi submit a preliminary report recommending an interim safeguard measure, Mincetur said.
“We respect the World Trade Organization and due process. Therefore, we will await the report of the Indecopi, which is currently in the process of collecting information from national companies in the textile industry. From the Mincetur, we will, within the framework of our competences, accompany and follow so that this process takes place as well as possible in the respect of national interests and legality within the framework of the WTO.commented Roberto Sánchez, head of the sector.
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In accordance with the process established by Supreme Decree No. 020-98-ITINCI and its amendments, this report will be submitted for analysis and decision to the Multisectoral Commission composed of the Ministers of Foreign Trade and Tourism (Mincetur), Economy and Finance (MEF) and Production (Produce).
Safeguard is a trade defense measure used by countries when there is an unexpected and large increase in imports that causes serious damage to their domestic industry. To impose such measures, all requirements established in the Agreement on Safeguards of the World Trade Organization (WTO) as well as national regulations must be respected.