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Saudi Arabian Most Prominent Methods to Face Market Dumping - ASHARQ AL-AWSAT English Archive
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Saudi Arabian Most Prominent Methods to Face Market Dumping

Saudi Arabian Most Prominent Methods to Face Market Dumping

Riyadh- A competitive future is emerging ahead of Saudi Arabia and petrochemical factories, especially with the Saudi team in charge of following up a cases of dumping and support led by Prince Abdulaziz bin Salman bin Abdulaziz, Deputy Minister of Petroleum and Mineral Resources. The team is also following up a case filed against what India claims as flooding the market with Saudi Basic Industries Corporation SABIC-produced 2-Ethylhexanol (2-EH) products.

2-Ethylhexanol is a colorless liquid used in several products and processes including functional fluid, solvents, process chemical, fragrances and several other chemicals such as plasticizers and emollients.

India’s Ministry of Commerce and Industry has decided to cancel an investigation into this filed case for the products that come to India from each of the Kingdom of Saudi Arabia, European Union, Indonesia, South Korea, Malaysia, Taipei and the United States of America.

In a statement, HRH Prince Abdul Aziz Bin Salman said the flooding margin is not large enough to warrant a fee imposed on the products.

The kingdom had also cooperated with Indian officials during the investigation process and provided all necessary information, he said in a statement.

In November 2014, India had launched investigations on its imports of Ethylhexanol-2 from Saudi Arabia, European Union, Indonesia, South Korea, Malaysia, Chinese Taipei, and USA.

The decision was taken after The Andhra Petrochemicals Ltd., the only producer of 2-Ethylhexanol in India, alleged that cheap imports of the material from these countries had caused significant injuries to the domestic market.

The company submitted an application to the government requesting it to initiate an anti-dumping investigation against the listed countries.