RIYADH: Saudi Arabia is set to impose final anti-dumping duties on imports of steel and stainless steel pipes originating from China and Taiwan, effective June 30, for a period of five years.

The duties, issued by the Chairman of the Board of Directors of the Kingdom’s General Authority of Foreign Trade Majid Al-Qassabi, specifically target pipes with longitudinally welded circular sections, according to a statement.

This reflects Saudi Arabia’s goal to enhance the competitiveness of national products, attract investment, and foster new industries, ultimately contributing to the Kingdom’s Vision 2030 goals.

It also aligns with the fact that Saudi Arabia’s real gross domestic product grew by 3.4 percent in the first quarter of 2025 compared to the same period in 2024, according to estimates by the General Authority for Statistics.

In terms of duty rates, the newly released statement said: “People’s Republic of China: ranged from 6.5 percent to 24.6 percent of CIF (cost, insurance, and freight) value not less than 1.750 to 4.111 per kilogram.”

It added: “Taiwan: ranged from 23.7 percent to 27.3 percent of CIF value, not less than 2.822 to 3.141 per kilogram.” 

The Zakat, Tax, and Customs Authority has been directed to implement and collect duties ranging from 6.5 percent to 27.3 percent, depending on the manufacturer, as detailed in the official announcement, the Saudi Press Agency reported.

“The measure follows the final results of an investigation launched on May 2, 2024, after the local industry submitted a formal complaint. The investigation was conducted in accordance with the Law of Trade Remedies in International Trade and its executive regulations, designed to protect the domestic market from unfair trade practices such as dumping,” SPA said.

It added: “GAFT emphasized that this step is part of broader efforts to safeguard national industries, enhance the Kingdom’s position in global trade, and contribute to the country’s economic growth.”

The Kingdom’s anti-dumping duties aim to protect domestic industries from unfair trade practices by foreign exporters. Specifically, they seek to protect local businesses from the adverse effects of dumping and subsidized imports.

These measures also help prevent surges in imports that could harm domestic industries and protect Saudi exports from similar trade-remedy measures imposed by other countries.

In June 2024, ZATCA relaxed the temporary admission regulations for heavy machinery and equipment. This policy change benefits international contractors working on major infrastructure projects by reducing customs duties on temporary imports and eliminating the need for frequent renewals, thereby facilitating smoother and more cost-effective project execution.

RIYADH: The Gulf Cooperation Council and Japan have launched the second round of negotiations for a free trade agreement, with discussions focusing on enhancing economic cooperation between the two sides. 

Held in Tokyo from June 30 to July 4, the talks aim to lay the groundwork for a comprehensive FTA that would grant Gulf goods and services preferential access to the Japanese market through tariff reductions, simplified customs procedures, and regulatory streamlining. 

The negotiations were preceded by coordination meetings of the GCC technical negotiation teams on June 29, the Saudi Press Agency reported. 

This follows the first round of negotiations in December, during which both parties discussed cooperation in goods, services, e-commerce, investment, and economic evaluation. 

“The second round of negotiations will address a number of topics across various areas, including goods, sanitary and phytosanitary measures, technical barriers to trade, services provisions, financial services, telecommunications services, the movement of natural persons, intellectual property, dispute settlement, general provisions of the agreement, rules of origin, and trade facilitation.” the SPA report stated. 

Saudi Arabia, represented by the General Authority for Foreign Trade and led by Deputy Governor for International Organizations and Agreements Fareed Al-Asaly is participating in the talks, it added. 

The Saudi delegation includes representatives from the Ministries of Energy, Investment, Environment, Water and Agriculture, along with officials from the Saudi Food and Drug Authority, the Saudi Central Bank, and the Zakat, Tax and Customs Authority. 

An FTA represents a legally binding agreement between countries designed to reduce or eliminate barriers to trade. 

The second round aims to finalize proposed texts and identify key areas of cooperation, paving the way for a comprehensive agreement. 

According to the Japan External Trade Organization, GCC exports to Japan reached $84 billion in 2024, down from $93 billion the previous year due to a drop in oil prices. Meanwhile, Japanese exports to the GCC rose to $24 billion last year from $22 billion in 2023. 

The GCC currently has an FTA with the European Free Trade Association, which includes Iceland, Liechtenstein, Norway, and Switzerland. 

The bloc also concluded an FTA with New Zealand in October, while negotiations are ongoing with countries including Australia, Malaysia, Turkiye, and the UK. 

Japan currently has FTAs with several countries, including Singapore, Mexico, and Malaysia, as well as Chile, Thailand, Indonesia, and Brunei. 

Other major nations that have FTAs with the East Asian country include Switzerland, Vietnam, India, the UK, and the US.