Investigation opened into Chiese fiberglass allegedly breaching rules on competition
ANKARA – Turkey's economy ministry has opened an investigation into allegations that rules against unfair competition were broken in the importing of Chinese products, an official statement said Thursday.
Turkey's Official Gazette said Turkish fiberglass producers Cam Elyaf Sanayii AS complained to the Assessment Committee of Unfair Competition about 'dumping' -- the pricing of products below the cost of producing them to make them more competitive -- on fiberglass from China.
The practice is illegal in some countries and discouraged in others because it harms a country's ability to protect domestic markets. In Turkey, authorities have right to impose anti-dumping taxes on the imported goods under a law to prevent unfair competition.
The committee had already made a judgement on the issue in 2010, which Cam Elyaf Sanayii AS claimed is insufficient to cover their losses, which will remain in place until there is a new judgement. The current judgment charges Chinese exporters between 20.20 percent and 23.75 percent of the cost value.
Copyright © 2014 Anadolu Agency