Kuwait Government Urged to Reimpose Import Duty on Steel and Cement

[2009-05-19 14:17:26]

KUNA reported that the Kuwait Industries Union has called on Kuwaiti state agencies involved to re-impose customs duties on steel and cement imports just as did the United Arab Emirates in March.

The union in a report on the conditions of the construction field said that the call aims to alleviate the aftershocks of the current global financial crisis on Kuwait''s construction material industry.

It argued that "The current customs exemption of imported steel and cement products, which was decided by the government last year as part of efforts to rein in surging staple prices, has not become necessary any longer."

It requested that "Now that the prices of local and imported products have dipped owing to the global financial crisis, customs duties should be re imposed in order to spare national products unfair competition and looming dumping cases."

It also called for lifting the current ban on several exports, mainly steel and cement, especially to Iraq.
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