The GCC has initiated a safeguard investigation on certain steel products to protect the region's domestic steel industry, said the World Trade Organisation (WTO)
The investigation covers the period from January 2014 to June 2019. (Image source: photoheuristic.info/Flickr)
A safeguard investigation seeks to determine whether increased imports of a product are causing, or is threatening to cause, serious injury to a domestic industry, according to the WTO.
During a safeguard investigation, importers, exporters and other interested parties may present evidence and views and respond to the presentations of other parties.
"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 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, reported Khaleej Times.
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, according to the report.
