November 9, 2010

Brazil takes EU poultry case to WTO for resolution

Brazil is taking what it deems are illegal EU poultry regulations to the World Trade Organization (WTO) for resolution.

Brazil will request the WTO to open a dispute panel over EU poultry regulations which it considers as illegal, a senior government said last week.

"We've concluded that we have a strong case and will proceed," said Carlos Marcio Cozendey, head of the foreign ministry's department of economics.

Due to the growing importance of Latin America's booming economy, Brazil has become a major player in international trade negotiations in recent years in line with the growing importance of its booming economy.

Brazil's poultry exports used to be the largest in the world and generated revenues of around US$7 billion in 2008 before the financial crisis affected global demand.