World Bulletin / News Desk
Mexico has launched its first dispute against Argentina at the World Trade Organization, following similar complaints against Argentina by the European Union, United States and Japan, the WTO said on Monday.
The four complaints centre on Argentina's import licensing rules, which its critics say amount to a blanket restriction on imports and are one of several protectionist policies adopted by the government of President Cristina Fernandez.
The worsening of trade relations between the two Latin American countries follows Argentina's decision to pull out of a car trade pact two months ago.
Mexico's inclusion in the WTO case, which has an unusually large number of complainants, may undermine Argentina's arguments that its critics are all rich nations that are trying to restrain developing countries.
Argentina's WTO ambassador Cecilia Nahón, defending the country's policies against widespread criticism at the WTO, has also asserted that Argentina cannot be accused of restricting imports when its imports grew by 31 percent in 2011.
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The 0.3 percent quarterly gain was in line with average forecasts compiled by data company Factset.
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EU Commissioner for Jobs, Growth and Investment and Competitiveness Jryki Katainen told reporters "we should forget this phrase" when asked if that meant granting market economy status to China.
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The EU Trade Commissioner Malmstrom made the comment while speaking to Chinese students in Beijing ahead of a China-EU summit.
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Banca Monte dei Paschi di Siena, or BMPS, is among the banks at the forefront of those concerns with gross bad loans amounting to 46.9 billion euros ($52 billion).
Fund to be used in support of education, health, municipal, socio-economic support for refugees in Turkey