Saudi Arabia approves international trade remedies regulation to protect local industry

12/03/2023 Argaam

Majid Al-Qasabi, Minister of Commerce

Minister of Commerce and Chairman of General Authority of Foreign Trade, Majid Al-Qasabi approved the executive regulations for Law of Trade Remedies in International Trade.

 

The law aims to protect the local industry from dumping and subsidized imports and prevent damage from the increase in imports, by imposing measures against such practices. It also defends the Kingdom's exports that are subject to trade remedies procedures.

 

The International Trade Remedies Law also consists of 37 regulatory articles, divided into 12 chapters, related to final and temporary measures, in addition to complaints, investigations, reviews, anti-fraud and others.

 

The Law of Trade Remedies in International Trade helps enhance the competitiveness of local products, and attract quality investments and new industries that contribute to achieving the goals of Vision 2030.

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