RCCI panel suggests stern action against China |
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RIYADH: The Exports Committee of the Riyadh Chamber of Commerce and IndustryRiyadh Chamber of Commerce and Industry
(RCCIRCCI) has demanded strong government action to counter the recent Chinese accusations that Saudi Arabian petrochemical companies are dumping their products in Chinese markets.Calling the Chinese stand unjustifiable and out of step with the principles of free trade, Ahmad Al-Keraidis chairman of the committee, said on Wednesday, "The official agencies should take stern decisions and a firm stand against the Chinese charge so that such charges are not raised against other Saudi industries as well."
In a statement to Arab News, Al-Keraidis warned that the recent Chinese allegations against Saudi Arabian petrochemical companies might adversely affect the good commercial relations between China and countries in the Gulf region. The businessman also appealed to concerned governmental agencies to remind China that the interests of both sides should be protected for continuous healthy trade relations.
Several Saudi businessmen have demanded Saudi Arabia repay China in the same coin by identifying Chinese products that have been flooding the Saudi market and threatening domestic manufacturers. "China stands to lose in any scenario of trade war between the two countries as imports from China to the Saudi market is estimated at SR47 billion while Saudi non-oil exports to that country is no more than SR7 billion," the businessman said.
He added that at the time of the Kingdom's accession to the World Trade Organization the Kingdom agreed to several concessions in promoting international trade. The Kingdom also realized then that each country has its favorable area of manufacture while petrochemicals is the priority area for Saudi Arabia.
The businessman also suggested the setting up of a committee comprising members of the Ministry of Commerce and IndustryMinistry of Commerce and Industry, the RCCIRCCI, the Export Promotion Center and economists of leading Saudi companies to counter the dumping charges and tackle other countries that are dumping Saudi markets with foreign products.
He also said the anti-dumping regulations of the WTO defined dumping as the practice of exporting a product to another country at prices less than what it is sold in the exporting country or at less than its original production cost.
Meanwhile, the Jubail-based Advanced Polypropylene Company (APP) said Wednesday that a number of Indian companies have filed a suite against companies in several other countries including Saudi Arabia for allegedly dumping polypropylene products in Indian markets.
The Saudi company said Indian authorities have launched an investigation on prospects of imposing anti-dumping taxes on polypropylene imports. The company sales in India reached 2.5 percent and 3.5 percent of its total sales in 2008 and 2009 respectively. Advanced Polypropylene said it was selling products in India at prevailing prices, without harming Indian producers. It described the Indian measure as unjustifiable, adding that it violated WTO regulations.
By Adnan Jaber
© Arab News 2009
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