Press Release: Commission proposes temporary defensive mechanism for shipbuilding against unfair Korean practices

The European Commission adopted a proposal on 25 July 2001 for a Council Regulation which would put in place a temporary defensive mechanism for European shipbuilding. The proposal is one element of the Commission's two part strategy against unfair Korean practices in this sector and will cover the market segments that are particularly affected by these practices. It comes after a series of negotiations between the Commission and Korea, which failed to produce an agreement that would restore normal trading conditions. The proposal is an accompanying measure to dispute settlement proceedings against Korea, which will be initiated in the WTO as soon as the Council expresses its favourable position on the temporary defensive mechanism.