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Prime Minister, Dr. Kamal Al-Ganzoury, held meeting of the committee on local goods protection from foreign dumping. The Minister of Industry confirmed that decrees imposing anti-dumping fees on certain goods are not issued by the concerned minister, but it depends on decrees issued by the Anti-Dumping Authority and the committee formed for this concern which includes representatives from 12 authorities. The Authority is not related to local decrees bit international standards monitored by the World Trade Organization. The decree of the anti-dumping committee on imposing 15% on tons of propylene with minimum EGP 1605 for 200 days was approved, aiming to monitor fees of exports, imports and the market as well as making sure there is no monopoly by factories’ owners. If the decree will have negative influence on the market, it will be canceled immediately to protect consumers.
The decree was issued based on complaints provided by two main factories for propylene productions in 10th of Ramadan City and West Port-Said who were negatively affected by the market dumping with imported products which is sold by price lower than the cost price, something which led to stoppage of one of these factories, and the other about to stop although their productions amount to 540,000 tons annually while the market requirements amount to 370,000 tons only. The committee formed for this concern confirmed that there is product dumping with lower price of EGP 1600 and it issued the above mentioned decree to follow-up on its impact for 200 days. A meeting will be held tomorrow with local producers of propylene to monitor the pricing policy and achieve balance between the industry interest and all parties topped by the consumer. The Trade Minister confirmed the importance of such industry and petrochemicals which enter in 90% of plastic industry, along to the necessity of attracting investments of such active industry.
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