GENEVA (Thomson Financial) – The World Trade Organisation has postponed until January 11 the deadline for the European Union to overturn a ban on genetically modified products, trade sources said.
The WTO first ruled September last year that the ban breaks global trade rules, following complaints from the United States, Canada and Argentina.
The EU was given until last Wednesday (November 21) to bring its policies into line with the ruling, but this was extended with the agreement of all parties, trade sources said.
In the longest ever ruling by the WTO’s Dispute Settlement Body, six EU countries — Germany, Austria, Belgium, France, Italy and Luxembourg — were deemed to have illegally banned nine GM products, mainly maize and soya.
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