The Egyptian Authority for Combating Subsidies and Dumping – an affiliate of the Central Administration for International Trade Policies in the Ministry of Commerce and Industry in Egypt – ruled that it is not in the public interest to impose tariff on Egyptian imports of PET (polyethylene terephthalate) imports from the Saudi Basic Industries Corporation (SABIC). Saudi Deputy Minister of Energy, Industry and Mineral Resources Prince Abdulaziz Bin Salman, who is also the head of the team for following up subsidies and dumping, said Sunday as reported by the Saudi Press Agency that it became clear to the investigating committee that the harm incurred by the local (Egyptian) industries have no connection with the increase in PET imports, but were for other reasons. Prince Abdulaziz lauded the professionalism of the investigating team of the Egyptian Authority for Combating Subsidies and Dumping in preparing the report on basic facts. He thanked them for their cooperation in completing this investigation. The Egyptian side had opened an investigation on preventive measures (against dumping) on Nov. 5, 2015 on Egyptian imports of PET, in response to claims that increase of PTE imports from the Kingdom, EU, UAE, Turkey, Taiwan, Malaysia and Oman have harmed Egyptian local industries producing this product. Prince Abdulaziz had held a meeting on March 1, 2016 with the Egyptian ambassador to the Kingdom to explain the Kingdom's side. The team concerned with subsidies and dumping cases also paid a visit to Egypt on March 15, 2016 and had a technical meeting with the Egyptian counterpart.
