By: Majid Al Shabib & Mohamed Idries

Riyadh – Mubasher: It is expected that undersecretaries from the ministries of commerce across the GCC will convene with their counterparts in the ministries of finance in the coming few days to discuss the importance of raising customs on iron imports, said Kuwait's minister of commerce and industry Yousef Al-Ali.

The recommendation to raise customs on imported iron between 5% and 15% has already been raised to GCC ministers of finance, Al-Ali told Mubasher on the sidelines of a meeting for GCC industry ministers in Riyadh.

The Kuwaiti minister affirmed the importance of protecting the industry from dumping.

Various bodies in the GCC have received complaints against companies in the region, he said, noting that a study should be conducted regarding filing complaints against some countries which are dumping their products in the GCC markets.

Speaking at the same event, newly-appointed Saudi oil minister Khalid Al-Falih concurred with Al-Ali and noted that the GCC must protect its industries from dumping by manufactures from other countries.

Translated by: Nada Adel Sobhi