Preventing the increase in imports of iron products from GCC countries

Riyadh 23 -10-2019 \ SPA
The General Secretariat of the Gulf Cooperation Council (GCC) announced the issuance of the decision of the Standing Committee to Combat Harmful Practices in the International Trade of the GCC States to initiate protection against the increase in imports of some iron products.
Accordingly, the Office of the Technical Secretariat announces the initiation of an investigation into the imports of some iron products from the GCC States from the date of its publication in the Official Bulletin of the Office of the Technical Secretariat to Combat Harmful Practices in International Trade.
This decision was based on the Unified Anti-Dumping Law and the Countervailing and Preventive Measures of the GCC States and its Executive Regulations and on the recommendation of the Technical Secretariat Office for Combating Harmful Practices in International Trade at the GCC General Secretariat, details of which are published in the Official Bulletin of the Bureau in Issue 23 Issued on October 23, 2019, and made available on the website of the General Secretariat of the Gulf Cooperation Council.
According to the details of the complaint, it was found that there was an increase in the GCC imports of some iron products as a result of the unexpected circumstances of the increase in the global production of iron, as well as the preventive measures and measures taken by some countries in the world against their imports of iron products, which contributed to the significant increase. For GCC imports of iron products.
The Assistant Secretary-General for Economic and Development Affairs at the General Secretariat of the Gulf Cooperation Council (GCC) Khalifa bin Saeed Al-Abri said that the decision of the Standing Committee to Combat Harmful Practices in International Trade was based on the importance of the role of industry in the Gulf economy as the axis on which these countries depend on the diversity of income sources. The Technical Secretariat Office was established to protect the Gulf industry from harmful practices in international trade in the Gulf markets, and to provide support and advice in case of such practices in the market. In this sense, the Standing Committee invested its role and did Article (4) of the executive regulation of the unified anti-dumping law and compensatory and preventive measures.
For his part, Director General of the Technical Secretariat Office for Combating Harmful Practices in International Trade, Rehan Mubarak Fayez, said that the office will study the evidence and evidence presented in the complaint from the Gulf industry and determine whether the products under investigation were supplied in the GCC countries according to unforeseen circumstances and in quantities. Intensive either in absolute or relatively in relation to production in the form of serious damage or threaten to cause serious harm to the Gulf industry for similar products or competition directly.
Rehan stressed that this measure is not intended to close the GCC market. The GCC countries are free economy countries. These measures and investigations do not hinder foreign trade but contribute to achieving fair trade in line with the requirements of the World Trade Organization. To combat dumping and countervailing and preventive measures for the GCC countries and its executive regulations.