India will cancel the imposition of anti-dumping duties on Saudi Arabian polypropylene

According to PUworld, India’s Central Commission for Consumption Tax and Customs issued a statement on the official website on December 30, 2011 that India will cancel the anti-dumping duties of Saudi Arabian Polypropylene.

Prior to this, India Reliance Industries (India, 50% polypropylene provider) investigated anti-dumping applications, and the Indian government imposed a 6.5% tariff on imported Saudi polypropylene. However, Abdullah Al-Garawi, CEO and President of Saudi Arabia Advanced Petrochemical Company, said in an interview on January 2 that he had been confirmed by the Saudi Petroleum Department that the tariff had been cancelled.

This decision was made at a crucial moment in the relations between the two countries. The Saudi trade delegation arrived in India on January 3rd under the leadership of Saudi Minister of Commerce and Industry Tawfiq Al-Rabiah. During the three-day period, both sides are actively discussing ways to strengthen investment and trade cooperation between the two countries. The Indian Chamber of Commerce and Industry believes that there is great room for cooperation between the two countries in the fields of oil, gas and petrochemical products.