OECD talks on steel subsidy to end in May

The Organisation of Economic Cooperation and Development (OECD) discussions on international steel subsidies are likely to be concluded by May 2004, according to steel industry sources.

At the sixth session of the high-level group of OECD on steel subsidies agreement on December 4-8, 2003 in Paris, India had asked to rectify certain clauses that had been put forward by the group.

The Indian government had said that notification given by a developing country should not be considered as a pre-authorisation by the committee on steel if the notification is responded.

The group had said that any developing country whose per capita GDP does not exceed $3000 would be granted the permitted subsidies upon notification to the Committee on steel.