Brazil applauds GCC’s decision not to impose safeguard on steel imports

The Gulf Cooperation Council (GCC) has decided not to apply measures against Brazil after completing an investigation on safeguards relating to the import of certain steel products. The Brazilian government described this decision as “positive for the Brazilian steel sector and for Brazil’s economic-commercial relationship with GCC countries.”

In a statement released on Sept. 21st, the federal government stated that “if applied, the safeguard would have a negative impact on Brazilian exports of the investigated product to the GCC countries (Saudi Arabia, Kuwait, Oman, Bahrain, the United Arab Emirates, and Qatar) and would contribute to the chronic problems facing the steel industry globally, such as overcapacity and protectionism”.

The Brazilian Foreign Ministry informs that the Ministry of Finance and the Ministry of Foreign Affairs actively participated in the investigation, in defense of the exclusion of national exports from the possible application of the safeguard, under the terms of the Agreement on Safeguards of the World Trade Organization.

Source: Comex do Brasil

To read the full original article, visit the link:

https://www.comexdobrasil.com/brasil-comemora-decision-do-conselho-de-cooperacao-do-golfo-de-nao-impor-salvaguarda-sobre-importacoes-de-aco/

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