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EC exempts Korean steel wire rope companies from anti-circumvention duties
- Date
- 2010-05-13
- hit
- 1719
1. After its anti-circumvention assessment of Korean steel wire rope companies, the European
Commission (EC) announced on May 11 that it would exempt 11 of the 14 Korean companies
that had applied for exemption from anti-circumvention duties (60.4%).
ㅇ Of the three companies that were denied exemption, one was insolvent, one had submitted
false information and rejected access to its information, and one did not have any record of
exports to the EU.
※ Anti-circumvention means avoiding anti-dumping duties by circumventing exports through a
third country. In this particular case, the EC examined whether Chinese steel wire ropes had
been circumvented to the ROK in order to avoid the anti-circumvention duties of 60.4% on
Chinese steel wire rope.
2. Through the EC’s decision, the 11 Korean companies exempt from anti-circumvention duties
must submit an EC-approved commercial invoice to an EU member country prior to exporting to
that country in order to be exempt from the duties.
※ EC conditions for a commercial invoice: The invoice must be drawn out in accordance with the
given format and certified by the relevant civil servant for the submitting institution.
① Name and position of the relevant civil servant for the submitting institution
② Certifying phrase: ‘I, the undersigned, certify that the (amount) of (product) sold for export
to the European Union covered by this invoice was manufactured by (name and address of
company)(TARIC additional code) in (country). I declare that the information provided in this
invoice is complete and correct'
③ Date and signature
3. The EC’s decision to exempt the majority of the 14 Korean companies that submitted a request
for exemption is viewed to be the successful outcome of the close cooperation between the Korean
government and steel industry in persuading the EU.
ㅇ The MOFAT has constantly argued that Korean companies did not circumvent anti-dumping
duties, providing evidence material at the on-the-spot investigation of EC (Oct.’09) and public
hearing (Feb.’10) and raised a formal objection at the Korea-EU Joint Committee in March.
4. The volume of Korean steel wire rope exports to the EU is about 100 million USD per year as
of 2009, and the exemption anti-circumvention duties is expected to prevent an annual loss of
about 64 million USD.
※ Statistics on Korean steel wire rope exports to the EU
(Unit: Mt, million USD)
5. The MOFAT will continue to make every effort to solve the problems faced by Korean companies
due to import regulations of other countries, including anti-dumping and safeguard measures.
Spokesperson and Deputy Minister for Public Relations of MOFAT
* unofficial translation
Commission (EC) announced on May 11 that it would exempt 11 of the 14 Korean companies
that had applied for exemption from anti-circumvention duties (60.4%).
ㅇ Of the three companies that were denied exemption, one was insolvent, one had submitted
false information and rejected access to its information, and one did not have any record of
exports to the EU.
※ Anti-circumvention means avoiding anti-dumping duties by circumventing exports through a
third country. In this particular case, the EC examined whether Chinese steel wire ropes had
been circumvented to the ROK in order to avoid the anti-circumvention duties of 60.4% on
Chinese steel wire rope.
2. Through the EC’s decision, the 11 Korean companies exempt from anti-circumvention duties
must submit an EC-approved commercial invoice to an EU member country prior to exporting to
that country in order to be exempt from the duties.
※ EC conditions for a commercial invoice: The invoice must be drawn out in accordance with the
given format and certified by the relevant civil servant for the submitting institution.
① Name and position of the relevant civil servant for the submitting institution
② Certifying phrase: ‘I, the undersigned, certify that the (amount) of (product) sold for export
to the European Union covered by this invoice was manufactured by (name and address of
company)(TARIC additional code) in (country). I declare that the information provided in this
invoice is complete and correct'
③ Date and signature
3. The EC’s decision to exempt the majority of the 14 Korean companies that submitted a request
for exemption is viewed to be the successful outcome of the close cooperation between the Korean
government and steel industry in persuading the EU.
ㅇ The MOFAT has constantly argued that Korean companies did not circumvent anti-dumping
duties, providing evidence material at the on-the-spot investigation of EC (Oct.’09) and public
hearing (Feb.’10) and raised a formal objection at the Korea-EU Joint Committee in March.
4. The volume of Korean steel wire rope exports to the EU is about 100 million USD per year as
of 2009, and the exemption anti-circumvention duties is expected to prevent an annual loss of
about 64 million USD.
※ Statistics on Korean steel wire rope exports to the EU
(Unit: Mt, million USD)
|
|
2006
|
2007
|
2008
|
2009
|
|
Volume
|
Volume
|
Volume
|
Volume
|
|
|
Export
|
125.4
|
125.4
|
180.4
|
106.2
|
5. The MOFAT will continue to make every effort to solve the problems faced by Korean companies
due to import regulations of other countries, including anti-dumping and safeguard measures.
Spokesperson and Deputy Minister for Public Relations of MOFAT
* unofficial translation