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Ⅰ. INTRODUCTION 3192

A. Complaint of the European Communities 3192

B. Establishment and Composition of the Panel 3192

Ⅱ. FACTUAL ASPECTS 3193

Ⅲ. PARTIES’ REQUESTS FOR FINDINGS AND RECOMMENDATIONS 3195

A. The European Communities 3195

B. Mexico 3196

Ⅳ. ARGUMENTS OF THE PARTIES 3199

Ⅴ. ARGUMENTS OF THE THIRD PARTIES 3199

Ⅵ. INTERIM REVIEW 3199

A. Technical Corrections and Adjustments 3199

B. Requests from the European Communities 3200

Ⅶ. FINDINGS 3210

A. General Issues 3210

1. Standard of Review 3210

2. Burden of Proof 3212

3. Treaty Interpretation 3214

B. Article 13.1 of the SCM Agreement 3216

1. Arguments of the Parties 3216

2. Reasoning of the Panel 3217

（a） Did Economia Send the Invitation to Consultations After Initiation 3218

（b） The nature of the obligations in Article 13.1 3222

C. Article 13（b）（i） of the Agreement on Agriculture 3226

1. Arguments of the Parties 3226

2. Reasoning of the Panel 3228

（a） Applicability of the Provision 3229

（b） Article 13（b）（i） of the Agreement on Agriculture 3229

D. Article 12.4.1 of the SCM Agreement 3237

1. Arguments of the Parties 3237

2. Reasoning of the Panel 3237

E. Article 12.8 of the SCM Agreement 3243

1. Arguments of the Parties 3244

2. Reasoning of the Panel 3244

F. Article 11.11 of the SCM Agreement 3249

1. Arguments of the Parties 3249

2. Reasoning of the Panel 3249

G. Articles 1 and 14 of the SCM Agreement 3250

1. Arguments of the parties 3250

2. Reasoning of the Panel 3253

（a） “Pass-through” of Subsidy Benefits 3253

（b） Article 14 - Other Calculation Issues 3271

H. Definition of “domestic industry” 3274

1. Arguments of the Parties 3275

2. Reasoning of the Panel 3276

（a） Introduction 3276

（b） Definition of “domestic industry” 3278

（c） Was Fortuny a “Producer” Within the Meaning of Article 16.1 of the SCM Agreement 3287

I. Article 11.4 of the SCM Agreement 3291

1. Arguments of the Parties 3291

2. Reasoning of the Panel 3292

J. Article 16.1 of the SCM Agreement and article Ⅵ：6（a） of the GATT 1994 3298

1. Arguments of the Parties 3298

2. Reasoning of the Panel 3299

K. Articles 15.1 and 15.4 of the SCM Agreement and Article Ⅵ：6（a） of the GATT 1994 3306

1. Arguments of the Parties 3306

2. Reasoning of the Panel 3309

（a） Article 15 of the SCMAgreement 3309

（b） Facts Regarding Economia’s InjuryInvestigation and Determination 3312

（c） Application of Articles 15.1 and 15.4 to the Facts of this Case 3315

L. Article 15.5 of the SCM Agreement 3319

1. Arguments of the Parties 3319

2. Reasoning of the Panel 3320

Ⅷ.CONCLUSIONS AND RECOMMENDATIONS 3331