The Argentine government said it would be ready to export beef to the US “before the end of the year” after the World Trade Organisation (WTO) ruled that Washington must end a 14-year ban.
The WTO’s Dispute Settlement Body ruled against the US’ 2001 ban on imports of frozen or refrigerated beef from Argentina.
The embargo was originally implemented due to outbreaks of foot and mouth disease (FMD) in Argentina, but remained in place even though the country has been internationally-recognised as FMD since 2007. Since then, the US restriction has cost Argentina approximately US$2bn in export sales, according to estimates from the Economy Ministry.
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Foreign Affairs Minsiter Héctor Timerman and Agriculture Minister Carlos Casamiquela speaking earlier today (Photo via Casa Rosada)
This morning, Foreign Affairs Minsiter Héctor Timerman and Agriculture Minister Carlos Casamiquela celebrated the WTO decision, which was announced in July but confirmed yesterday without the possibility of appeal.
“It is a great triumph for Argentina, and I hope that cattle producers will be happy with the news,” said Timerman. “The reason we went to the WTO in 2012 was because we had tried unsuccessfully to negotiate the end of the trade restrictions imposed unilaterally by the US.”
Timerman also warned that cattle organisations and the so-called vulture funds in the US were lobbying to block the sale of Argentine meat in the world’s biggest economy, but added that the WTO’s decision is “not up for appeal: they either open the market or could face sanctions.”
Meanwhile, Casamiquela estimated that if the US removes the ban “Argentina will be ready to export before the end of the year.”
The government forecasts that beef sales to the US could amount to US$280m per year if the market is re-opened.
Latest figures from the National Food Safety and Quality Service (SENASA) show a modest recovery in the volume exports of fresh meat and related products in the first half of 2015. However, it still remains barely a third of the output in the same period of 2009.
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