Here's what you need to know about Trade Remedies in International Trade Law

The Saudi official gazette Umm Al-Qura published, on Dec. 2, details of the Trade Remedies in International Trade Law that has been approved recently by the Cabinet.

The law aims to protect the local industry from the damage resulting from dumped and subsidized imports, as well as to prevent an increase in imports and defend against the Kingdom's exports that are subject to trade remedies procedures.

Under the law, a committee will be formed from the Ministry of Industry and Mineral Resources; the Ministry of Economy and Planning; Zakat, Tax and Customs Authority (ZATCA), and the General Authority for Foreign Trade (GAFT). The committee will consider GAFT's reports on the complaints related to trade remedies of imports from the GCC region.

When receiving complaints about trade remedies of imports from the GCC, GAFT will coordinate with the committee, before reviewing the complaint and deciding whether to accept or reject it.

In addition, GAFT will undertake trade remedies procedures, including conducting investigations and reviews and as well as developing measures in line with the Kingdom's international commitments, especially the Anti-dumping Agreement and the Agreement on Subsidies and Countervailing Measures.

The Saudi Cabinet, chaired by King Salaman, approved on Nov. 22 the Trade Remedies in International Trade Law, according to data available with Argaam.