Egyptian Minister of Trade and Industry Nevin Gamea issued a decision to impose an anti-dumping custom duties on Sulphonated Naphthalene Formaldehyde (SNF) imported from China and Russia.
According to a statement of the Ministry of Industry issued on Saturday, the decision will be effective for the next 5 years from the day following the date of its publication in the Official Gazette.
On his part, the head of the ministry’s international trade policies department Ibrahim El Seginy said that the decision came as a result of the recommendations reached by the sector after investigating the complaint of local industries against the dumping on imports of this type.
Dumping is the export a product to another country at a lower price, which is below the normal price to increase market share in a foreign market by driving out competition and thereby create a monopoly situation.
El Seginy explained that after investigation and analyzing all the data, the department concluded that the imports of SNF products were sold at dumped prices and with margins of dumping of bout 24.9% on Russian imports and 13.6-22.6% for Chinese ones, which confirms a damage to the local industry.
He explained that after the start of the procedures, the sector sent the lists of questions and a copy of the announcement of the start of the investigation and a complaint will be send to the parties concerned, and they were given a period of 37 days from the date of receiving the list of questions to respond.
He pointed out that the investigation authority conducted field verification visits to companies representing the domestic industry, importers from both China and Russia, in order to examine and review the accuracy of the data provided by those parties through books and financial records.
"We notified the World Trade Organization (WTO) of the decision," he concluded.
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