China and Saudi Arabia reach preliminary agreement on anti-dumping allegations of petrochemical products
Zhong Shan, the Deputy Minister of China's Ministry of Commerce, and Abdullah Hamdi, Assistant Minister of the Saudi Arabian Ministry of Commerce and Industry, concluded a four-day negotiation and reached a preliminary agreement regarding China's anti-dumping investigations into Saudi Arabian petrochemical products. Both sides reportedly made some concessions during the talks, but China has urged Saudi companies to provide the necessary information promptly in order to move forward with the process. The outcome is seen as a positive step toward resolving the dispute and maintaining healthy trade relations between the two countries.
Prior to the negotiations, Saudi media and the local exporting community expressed strong concerns over China’s anti-dumping measures targeting their petrochemical exports. Some non-governmental organizations even called on the Saudi government to consider reciprocal actions against Chinese goods. However, both nations have emphasized the importance of dialogue and cooperation in addressing trade issues, rather than escalating tensions. This agreement marks a significant effort to find a balanced solution that protects market interests while promoting fair trade practices.
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