WTO approves import restrictions for Ecuador
Published: 04 Jun 2009 17:23:39 PSTGENEVA, June 4 - World Trade Organisation (WTO) members agreed on Thursday to allow Ecuador to impose temporary import restrictions because of balance of payments problems.
According to a draft report by the WTO's committee on balance of payments restrictions, a copy of which was obtained by Reuters, the agreement was reached after Ecuador modified its original proposals and said it would replace most import quotas with tariffs, and phase out the measures early if its payments position improved.
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