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The GCC initiates a Safeguards investigation against Flat-Rolled Steel imports

The GCC initiates a Safeguards investigation against Flat-Rolled Steel imports

The Bureau of Technical Secretariat for Anti-Injurious Practices in International Trade (TSAIP), GCC’s competent authority for investigating trade remedy petetions, has initiated a safeguards investigation on 9 June 2016 against the importation of Flat Rolled Steel from all exporting sources to the GCC market.

The Safeguards Petition was filed by a major Saudi steel manufacturer; Universal Metal Coating Company (UNCOIL) , which represented a major proportion of GCC’s manufacturers of the subject product.

The petitioners alleged that an unforeseen developments have led to the increase of Flat-rolled iron or non-alloy steel products into the GCC market, causing serious injury to the GCC industries, which data showed declines in production, sales, capacity utilization, productivity, market share, profits and labour.

TSAIP invited all interested parties including governments and exporting companies to participate in the investigation.

The GCC member states are Bahrain, Kuwait, Oman, Qatar, Saudi Arabia, and the United Arab Emirates.

This investigation is the first trade remedy investigation initiated by the GCC.

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