India's Ministry of Commerce and Industry (MoI) has accepted a petition to exempt Saudi Arabia from imposing anti-dumping levies on India's imports of saturated alcohols being produced by Saudi Kayan Petrochemical Company.
The Indian Commission of Inquiry approved the acceptance of the Kingdom's request for the fact that Kayan's production of this substance began mainly in May 2015, and the quantities sold in India were less than 308 tons, less than 3% of the total Indian imports of this substance during the investigation period.
The Indian Investigation Commission decided to exempt the Kingdom due to the small market share of the Kingdom's exports of this substance to the Indian market, while continuing legal proceedings against India's imports of this substance from Indonesia, Malaysia, and Thailand.
It is noteworthy that this issue is among the missions tackled by a specialized panel chaired by State Energy Affairs Minister Prince Abdulaziz bin Salman bin Abdulaziz.
These developments come at a time Saudi companies and petrochemical plants are producing a better global competitive future.
Dumping issues worldwide are among the most worrying export issues. They result in significant financial and economic implications, but Saudi exports, thanks to the efforts of the panel, are more confident with the swift handling of dumping cases raised.
Headed by Prince Abdulaziz, the follow-up team relies greatly on several key tools that contribute to supporting Saudi exports. These main tools are based on absolute transparency, a strong legal position and a rapid method of handling any rising issue.
