GCC launches investigation to protect steel industry

The GCC has started a safeguard investigation on certain steel products to protect the region's domestic steel industry, the World Trade Organisation (WTO) has said.

Oman, which is the president of the Cooperation Council for the GCC, submitted the application to the WTO on behalf of the member states.

A safeguard investigation seeks to determine whether increased imports of a product are causing, or threatening to cause, serious injury to a domestic industry.

During a safeguard investigation, importers, exporters, and other interested parties may present evidence and views and respond to the presentations of other parties.

The investigation covers the period from January 2014 to June 2019 and will focus on hot rolled flat products, various rebar and wire rods, sections, and welded and seamless.

"Interested parties willing to receive a questionnaire should request it no later than 10 days from the date of publication of the initiation notice of the investigation," the WTO said in a statement.

The hearing will be held at the premises of the GCC-Bureau of Technical Secretariat for Anti Injurious Practices in International Trade (GCC-TSAIP) for all interested parties to present their views and arguments. A previous investigation by the GCC had resulted in a three-year safeguard duty on imports of coated sheets. - waheedabbas@khaleejtimes.com