Embraer – Bombardier War

EMBRAER WELCOMES WTO DECISION

Embraer strongly welcomed the news about the decision, this morning, of the Dispute Settlement Body (DSB) to authorize Brazil to retaliate against Canada.The amount of US$ 3.36 billions, claimed by Brazil, will be, according to World Trade Organization (WTO) rules, subject to arbitration.
“This is the confirmation of a major victory achieved by Brazil at the beginning of the year. Thus, it is now clear to the world that Canada, which violated the WTO regulations, has not corrected its financing mechanisms in order to adjust them to the legal practices of the Organization. The amount to be submitted to arbitration is important, but more significant was obtaining the Retaliation Mandate concession. The Brazilian diplomatic service is to be congratulated for achieving recognition by the WTO of yet another relevant fact, as we go forward to ensure equal competitive conditions on the international market,” said Maurício Botelho, President and CEO of Embraer.