The steel industry in the United Arab Emirates requests protective measures

The CEO of Emirates Steel warns that the influx of steel imports from China and Turkey into the United Arab Emirates, at prices below the market value, will have a negative impact on the volume of production.

Emirates Steel from Abu Dhabi, the largest steel producer in the United Arab Emirates. Has signaled the harmful effects of imported Chinese and Turkish steel on the UAE markets. The company asked for protective measures to face the growing competition and falling prices. Which will affect future industrial development plans in the United Arab Emirates.

„The steel industry plays a crucial role in the UAE’s industrial development plans and therefore should be protected against unfair trade practices,” said Saeed Al Ghumran Romaithi – CEO of Emirates Steel in a press statement.

CEO of Emirates Steel – influx of steel imports

He warned that the influx of steel imports from China and Turkey into the United Arab Emirates, at prices below the acceptable market value, has a negative impact. On the profitability of steel producers in the United Arab Emirates. Thus causing damage to both existing and future investments. And they endanger the steel industry in the United Arab Emirates. He added that the lack of strong customs protection in the United Arab Emirates will lead to the escalation of the problem.

„If adequate measures are not taken, many producers in the UAE will suffer. And the country will not succeed in diversifying its economy. To get rid of dependence on oil as a major source of income.”

In addition to the introduction of anti-dumping duties, Al Romaithi also recommended the adoption of a uniform quality standard. To defend against imports from China of poor quality. And to force Chinese steel exporters to comply. „Similar practices, such as American standards for Materials Testing and British Standards, are applied in the US and Europe,” said Al Romaithi.

A wave of Chinese exports this year has led to anti-dumping investigations. These were initiated in the USA, Turkey, Southeast Asia and Europe. Al Romaithi stressed the urgent need to review import tariffs. Or to increase the level of taxes, to avoid the danger of cheap imports from China and Turkey.

Article source: http://www.khaleejtimes.com/biz/inside.asp?xfile=/data/uaebusiness/2015/April/uaebusiness_April214.xml&section=uaebusiness