11/01/2013

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SAUDI ARABIA: Egypt scraps anti-dumping fees on Saudi polypropylene

The North African country has been investigating since April 2012 protective measures and anti-dumping fees imposed on Saudi imports due to claims that they are damaging its industry, the Saudi Press Agency said. The decision came after the investigating authorities in Egypt concluded that the alleged damage to the Egyptian industry is due to other reasons besides the increase in imports, and that the imposition of preventive measures does not serve the Egyptian public interest.Prince Abdul Aziz, who is chairman of the team assigned to deal with anti-dumping issues, said investigations into the imposition of preventive measures against Saudi polypropylene imports began on 23 April 2012."After that the Egyptian minister of industry and foreign trade decided on 12 Sept. 2012 with the discontinuation of the decision to impose temporary preventive measures by 15 percent on Saudi polypropylene imports and with a minimum of 1,605 pounds per ton, in line with the evidence and facts provided by the investigative team to the Egyptian government,” he explained.Prince Abdul Aziz praised the Egyptian government for its understanding, examining the evidence and data, and dealing with the issue objectively and professionally, which led to its decision to cancel the fees on polypropylene imports on 24 Dec. 2012. He also commended Saudi Ambassador to Egypt Ahmed Qattan's efforts to resolve the issue.The anti-dumping fees were imposed on several Saudi petrochemical producers such as Saudi Basic Industries Corp. (SABIC), PetroRabigh, Advanced Petrochemical Company, National Petrochemical Industrial Company and National Industrialization Co.Saudi petrochemical companies benefit from the low cost of feedstock athome, giving them a competitive edge over producers elsewhere that use naphtha, a crude derivative whose price has risen in line with surging oil prices.(Syed Rashid Ali, Karachi, Pakistan)
Source: Daily "Arab News", Riyadh; 9 Jan 2013

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