MOSCOW (MRC) -- In a move to preserve its public interest, Egypt has lifted anti-dumping fees on polypropylene (PP) imports from Saudi Arabia after a prior investigation of the matter, Saudi Arabia's deputy oil minister Prince Abdul-Aziz bin Salman said in remarks published Tuesday, according to hydrocarbonprocessing.
The investigation on protective measures and anti-dumping fees imposed on Saudi imports due to claims that they are damaging its industry has been conducting by Egypt since April, Prince Salman said, according to state-run Saudi Press Agency, or SPA. The results of the investigation showed that the damage was caused by other factors and that the measures against Saudi imports were not in interest of the Egyptian public.
The fees were imposed on several Saudi petrochemical makers such as Saudi Basic Industries Corp. (Sabic), the world's largest petrochemical maker, Rabigh Refining and Petrochemical Co. and National Industrialization Co.
Early last year, Turkey ended its anti-dumping claims on monoethylene glycol imports from Sabic after it confirmed that the firm was complying with all the regulations. The move came after India scrapped an anti-dumping duty on polypropylene exports from the Middle East's largest listed company.
As MRC informed earlier, the Egyptian government implemented a protection fee of 15% on all homo-PP imports effective for 200 days from June 5 to December 22, 2012. Egyptian PP producer "Egyptian Propylene and Polypropylene Co" (EPPC) pointed to strong competition from lower priced import cargoes as support for the new measures, but buyers have expressed anger regarding the new protection measures, which they feel to be unjustified. However, in early October the Egyptian government froze the 15% import duty on PP from the Gulf (GCC) for an indefinite period. The government took this decision after the closure of the plant of EPPC, the main provider of local PP for Egyptian converters.
MRC