Steel bodies express concern over China's 'dumping' of steel products in
region
CONCERNED about the surge of
steel products from China flowing into Asean, the region's iron and steel
associations are calling for a review of the free trade agreement (FTA) between
the economic powerhouse and the regional grouping.
A joint proposal was submitted to
the Asean Secretariat in Jakarta last month for the issue to be taken up with
China, The Star newspaper reported yesterday, quoting Asean Iron and Steel
Council (AISC) president Chow Chong Long.
AISC members - the Malaysia Iron
and Steel Industry Federation, the Indonesian Iron and Steel Industry
Association, the Philippines Iron and Steel Institute, the Singapore Iron and
Steel Group, the Iron and Steel Institute of Thailand and the Vietnam Steel
Association - want terms of the bilateral agreement to be reassessed. The
associations will also take up the issue with their respective governments.
The volume of Chinese steel
products into Asean has been rapidly expanding since the Asean-China FTA came
into force in January 2010, surging by 47 per cent in the first nine months of
last year over the same period 2011.
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