Business

Airbus Facing Investigation from WTO
by Milota Sidorova

Here comes the breaking news from the aircraft industry. Right after we’ve heard low priced Sky Europe ended up in bankruptcy, selling the tickets until last breath to people who are not getting not a penny back, there’s another accusation coming from the World Trade Organization. The case European Union preferring European plane maker company Airbus is coming into the focus. The stimulus for the investigation came from, let’s say rival – United States. States suggested that most of the loans provided by European Union to the “domestic” producer violated international rights of WTO. More over, it harmed American Boeing. Washinghton starte! d the case, but the number of loans seems to be higher and they have to be solved separately. The case, however, seems a big deal in fair play image of both countries, hasn’t been commented publicly – not by European Union, not by Airbus neither by Boeing representatives. European sources denied there had been a clear-cut result, so far. World Trade Organization has underlined in more than twelve and more suspicious loans during five years probe. According the trade rules, these subsidies have to be dismantled or amended. WTO, founded in 1995 is creating framework for regulations between participating countries, negotiations and trade agreements. It also examines the coherence and transparency of trade politics using the tools in global economic policy-making. Pity that such information come from anonymous sources, according several report agencies like Reuters and Yahoo prooved to be close to the reports. Then one has to wait on something more than the whisper! and cries surrounding WTO report.

related story (sgx1 5315): http://news.yahoo.com/s/nm/20090907/bs_nm/us_trade_aircraft;...

by Milota Sidorova for PocketNews (http://pocketnews.tv)

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posted by Blog TechSource @ 11:34 PM