Saudi Arabia, China talks on dumping charges fails

14/01/2010 12:00 - 484 Views

Talks between Saudi Arabia and China failed to resolve Chinese dumping charges on imports of 1.4-butanediol from Saudi Arabia. China announced anti-dumping tariffs of up to 13.6% on 1.4-butanediol from Saudi Arabia and Taiwan on December 24. China had levied a 4.5% anti-dumping tax on imports of butanediol from the Saudi International Petrochemical Co. Further negotiations are underway between the two nations to resolve the issue.

The two countries have targeted a 50% growth in bilateral trade between 2009 and 2015, increasing by US$20 bln in total annual value from US$40 billion from 2009.

Bilateral trade is heavily weighted in Saudi Arabia's favour, with China importing mainly crude oil and petrochemical products. Chinese crude imports in 2009 increased to over 12% to just over 800,000 bpd.

(12-1-2010)

Source: www.plastemart.com