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FINANCIAL NEWS
Turkey to re-evaluate dumping claims against Saudi Sabic
09 Jan 2012
(MENAFN) Saudi Arabia entered in talks with Turkey over dumping claims against Saudi Basic Industries (Sabic) in the Turkish market, Bloomberg reported.
Prince Abdulaziz bin Salman Al Saud, the deputy oil minister explained that the Turkish authorities agreed to re-evaluate the case against the company.
Previously, the European Union and India scraped dropped similar claims against Sabic in December 2011, the official added.
Turkish authorities accused Sabic, the world’s largest petrochemical producer, of dumping monoethylene glycol.
Saudi government appointed the Petroleum Ministry as the official negotiator over claimed dumping with the EU and India.
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