Choi Seong-yo, Counselor of the Geneva Mission, Elected Chair of the WTO Subsidies and Countervailing Measures Committee

[Asia Economy Reporter Lim Cheol-young] Choi Sung-yo, Counselor at the Permanent Mission of Korea in Geneva (photo), was elected as the Chair of the World Trade Organization (WTO) Committee on Subsidies and Countervailing Measures, the Ministry of Foreign Affairs announced on the 28th.

Counselor Choi will serve as the Chair of the committee, which handles issues related to subsidies and countervailing measures raised by the 164 WTO member countries, for the next year.

The WTO Committee on Subsidies and Countervailing Measures is one of the 11 committees under the Council for Trade in Goods and is a standing body that oversees the implementation of the WTO Agreement on Subsidies and Countervailing Measures. The Subsidies Agreement regulates countervailing measures on subsidies, which, along with anti-dumping duties and safeguard measures, are representative WTO trade remedy measures.

An official from the Ministry of Foreign Affairs explained, "At this important time when new progress is being sought in WTO negotiations and agendas, including WTO reform, our country will contribute to efforts to strengthen and develop multilateral trade disciplines to prevent the trade-distorting effects of subsidies through the advancement of the Chairmanship of the Committee on Subsidies and Countervailing Measures."

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