It is reported that Arab Iron and Steel Union will ask Arab nations next month to impose a duty of up to 20% on imports that constitute dumping.

AISU said that it has a buy in on this proposal from about 12 Arab nations including Sudan, Libya, Algeria, Morocco and the six Gulf Cooperation Council states.

Dr Hilal Hussain Al Tuwairqi president of AISU and chairman of the Saudi conglomerate Al Tuwairqi Holding told an iron and steel conference in Dubai that “Everybody is breaking WTO regulations, but they want to impose the regulations on us. Developed nations have closed their countries for a hundred years. Now, when we are trying to develop our economies for our people, they give us WTO.

Dr Al Tuwairqi said “We are going to tell the Arab world not to buy imported steel. Traders who continue to import will be left sitting on piles and piles of unsold steel. The AISU will make a strong pitch for anti dumping duties on steel products at an Arab summit in Sharm Al Shaikh, Egypt, next month.”

Mr Khalid Al Qaderi CMD of Bahrain based United Stainless Steel Company said it is important to face down competition from nations that dump goods on other nations at unsustainable prices. He however added that “At the same time, we should strive to keep becoming more competitive in terms of pricing and costs.”

(Sourced from Gulfnews)