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GCC starts investigation to protect steel industry

The GCC has initiated a safeguard investigation on certain steel products to protect the regions domestic steel industry, said the World Trade Organisation (WTO)

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.