Decrease Damages and Unfair Practices On Saudi Arabia and Gulf Manufacturers And Industries
The Minister of Commerce and Investment, Dr. Majid bin Abdullah Al-Qausabi praise the Gulf Cooperation Council (GCC) unanimously approved the decision to safeguard against the increase of Flat-rolled Products of Iron and Non-alloy Steel imports. The case is the first to reported to the WTO in this matter, under the unified law of anti-dumping, compensatory and safeguard measures which announced on the official website of the organization.
His Excellency the Minister of Commerce and Investment, Chairman of the current session of the Trade Cooperation Committee of the GCC, stressed that the Kingdom in cooperation with the GCC countries have played a significant role and worked very hard over the past years on the completion of unified law approvals and its amendments. All that to combat the harmful practices to the international trade. The Ministry of Commerce and investment was keen to activate this important law under the understanding of its effect on trading performance. And decrease damages and unfair practices on Saudi Arabia and Gulf manufacturers and industries.
His Excellency also praised the group initiative of the GCC countries to continue opening investigations to combat unfair practices in international trade and currently investigating GCC markets dumping. Pointing out that it is a sign of GCC countries unity in fair trade and combat against international trade harmful practices that affect the manufacturers.
These efforts are clear evidence of the desire of their Excellences the Ministers of Commerce in the GCC countries to eliminate the damages affecting the manufacturers along with current and new industries. And no doubt that it will protect the GCC markets, leading to a localizing the investments which correspond to the Saudi Vision 2030.
His Excellency, the Minister of Commerce and Investment, explained that the collective processing of high-priority issues for the GCC countries, in line with policies of strengthening the Customs Union. And the decisions of unifying the commercial policies and combat against harmful practices affecting Gulf and Saudi manufacturers.
Dr. Al-Qausabi said that the current situation was a result of a teamwork effort from all the GCC countries over many years, during which some meetings held under the umbrella of the General Secretariat of the Gulf Cooperation Council. Nowadays, the GCC countries are harvesting the fruits of the unified system which considered a great historical achievement, and hopefully to continue to do so in the short and medium term.