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Ilyashev & Partners Secures Introduction of Provisional Anti-Dumping Duty on Imports of Steel Fasteners to Ukraine from China

Ilyashev & Partners Secures Introduction of Provisional Anti-Dumping Duty on Imports of Steel Fasteners to Ukraine from China

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The International Trade Practice team of Ilyashev & Partners has secured the introduction of provisional anti-dumping duties on imports to Ukraine of steel fasteners originating in the People’s Republic of China.

Last December, Ilyashev & Partners helped Druzhkovka Hardware Plant PrJSC initiate an anti-dumping investigation into imports of steel fasteners from the People’s Republic of China to Ukraine (as reported by CEE Legal Matters on January 31, 2020).

According to Ilyashev & Partners, "on May 22, 2020, [Ukraine's] Interdepartmental Commission on International Trade awarded to impose a provisional anti-dumping duty of 19.75% on the following goods: ferrous metal products, threaded, namely: screws, bolts and nuts classified under UKTZED codes 7318 15 69 90, 7318 15 81 90, 7318 15 89 90, 7318 15 90 90, 7318 16 91 90, 7318 16 99 90 and originating in the People’s Republic of China."

“The introduction of such duties is the result of a timely response by the Government of Ukraine to unfair competition on the part of Chinese manufacturers in the Ukrainian fasteners market, which will allow the national manufacturers to start eliminating the effects of dumped imports from China," commented Ilyashev & Partners Partner Olena Omelchenko. "This decision is extremely important for domestic industry in the midst of world trade wars and economic crisis. We are glad that the Ministry of Economy and the Interdepartmental Commission are responding to business problems and are ready to make extremely important decisions to preserve jobs in the country."

According to Ilyashev & Partners, "the provisional anti-dumping duty has been imposed for a period of four months from the date of publication of the relevant decision of the Interdepartmental Commission in the Uriadovyi Kurier. The provisional anti-dumping duty will be levied by the customs authorities regardless of the payment of other taxes and fees (mandatory payments). The application of provisional anti-dumping measures will not create obstacles to the customs clearance of goods."

The aforementioned decision is aimed at establishing fair competition in the Ukrainian market, increasing production and sales by the national manufacturers, preserving existing and increasing the number of new jobs, as well as increasing the future investments in Ukrainian industry.

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AVELLUM is a leading Ukrainian full service law firm with a key focus on Finance, Corporate, Dispute Resolution, Tax, and Antitrust.

Our aim is to be the firm of choice for large businesses and financial institutions in respect of their most important and challenging transactions.

We build lasting relationships with our clients and make them feel secure in new uncertain economic and legal realities.

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AVELLUM is recognised as one of the leading law firms in Ukraine by various international and Ukrainian legal editions (Chambers, The Legal500, IFLR1000, The Ukrainian Law Firms, and others).

Firm's website: www.avellum.com

 

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