Thailand, Philippines to settle 14-year tobacco trade dispute

The governments of Thailand and the Philippines have agreed to resolve their 14-year dispute over the customs valuation of cigarettes, according to the World Trade Organisation (WTO). The bilateral understanding, signed on June 7, is intended to help the two nations come up with agreed procedures for the settlement of the dispute. The Philippines first complained in 2008 on Thailand's customs and fiscal measures on cigarettes imported from the country. The WTO in 2010 decided in favour of the Philippines, but Thailand have not subsequently complied with the measures recommended in the ruling issued by the WTO.