AVN 66.65 Decreased By ▼ -1.33 (-1.96%)
BOP 9.75 Decreased By ▼ -0.13 (-1.32%)
CHCC 129.95 Decreased By ▼ -3.55 (-2.66%)
DCL 11.20 Decreased By ▼ -0.35 (-3.03%)
DGKC 112.84 Decreased By ▼ -1.51 (-1.32%)
EFERT 60.75 Increased By ▲ 0.65 (1.08%)
EPCL 43.75 Decreased By ▼ -0.25 (-0.57%)
FCCL 21.05 Increased By ▲ 0.15 (0.72%)
FFL 17.45 Decreased By ▼ -0.20 (-1.13%)
HASCOL 20.96 Decreased By ▼ -0.21 (-0.99%)
HBL 131.75 Decreased By ▼ -1.25 (-0.94%)
HUBC 80.22 Decreased By ▼ -1.33 (-1.63%)
HUMNL 8.11 Decreased By ▼ -0.10 (-1.22%)
JSCL 30.70 Increased By ▲ 0.79 (2.64%)
KAPCO 26.49 Decreased By ▼ -0.41 (-1.52%)
KEL 4.16 Increased By ▲ 0.03 (0.73%)
LOTCHEM 12.50 Decreased By ▼ -0.40 (-3.1%)
MLCF 39.66 Decreased By ▼ -0.51 (-1.27%)
OGDC 104.33 Decreased By ▼ -3.92 (-3.62%)
PAEL 36.95 Decreased By ▼ -1.15 (-3.02%)
PIBTL 13.25 Decreased By ▼ -0.37 (-2.72%)
PIOC 98.50 Decreased By ▼ -0.50 (-0.51%)
POWER 9.38 Increased By ▲ 0.14 (1.52%)
PPL 93.11 Decreased By ▼ -2.17 (-2.28%)
PSO 201.50 Decreased By ▼ -0.50 (-0.25%)
SNGP 63.81 Decreased By ▼ -1.59 (-2.43%)
STPL 13.90 Decreased By ▼ -0.41 (-2.87%)
TRG 54.60 Decreased By ▼ -1.95 (-3.45%)
UNITY 18.10 Increased By ▲ 0.49 (2.78%)
WTL 1.19 Decreased By ▼ -0.03 (-2.46%)
BR100 4,346 Decreased By ▼ -8.53 (-0.2%)
BR30 22,083 Decreased By ▼ -141.56 (-0.64%)
KSE100 41,806 Decreased By ▼ -69.89 (-0.17%)
KSE30 17,659 Decreased By ▼ -15.57 (-0.09%)
COVID-19 TOTAL DAILY
CASES 308,217 799
DEATHS 6,437 5

Germany's powerful machine-tool makers' federation said Monday that China should submit to the same international trade rules as developed countries, rather than enjoy emerging-economy leg-ups.
China - the world's second-largest machine-tool exporter after Germany - has got away with "subsidy distortions and unequal market access" at the World Trade Organization (WTO), the VDMA industry body said. "In many areas China has long since ceased to be a developing country. Therefore, the same international trade rules must apply to China as to Germany or the EU," it added.
Subsidies allow Chinese firms to hide the true costs of production, the VDMA argues. It pointed to areas like the solar panel market, where cut-price surplus product from China flooded international markets and helped drive competitors out of business, notably in Germany.
Since joining the WTO in 2001, China has committed like other member states to inform the organisation of its subsidy schemes. "Practice shows that this is only done to a limited extent," the VDMA charged.
In future, reporting should be "sharpened and every non-notified subsidy must automatically be classified as market-distorting - combined with the possibility of countermeasures," the federation's international trade chief Ulrich Ackermann said.

Copyright Agence France-Presse, 2020