Translation. Region: Russian Federation –
Source: People's Republic of China in Russian – People's Republic of China in Russian –
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Source: People's Republic of China – State Council News
Beijing, February 24 (Xinhua) — China and the Republic of Korea (ROK) have properly settled their dispute over hot-rolled steel in accordance with World Trade Organization (WTO) rules, the Chinese Ministry of Commerce announced on Tuesday.
As the department noted, this demonstrates the countries' strong commitment to multilateralism and the protection of free and fair trade, serves as another example of dispute resolution through dialogue and consultation, and brings positive energy to the stabilization of international trade and economic cooperation.
The Ministry of Commerce reported that on February 23, in a final decision on the anti-dumping case against Chinese hot-rolled steel products, Kazakhstan announced that it had reached an agreement with China on a price commitment scheme.
As noted by the Chinese Ministry, industry circles of both countries welcomed this agreement, recognizing that the replacement of anti-dumping duties with price commitments is in the interests of the industrial circles of the two countries and contributes to increased stability and predictability in trade in ferrous metallurgy products between China and the Republic of Kazakhstan.
The economic ties between China and the Republic of Korea are close, and their production and supply chains are deeply intertwined, which facilitates mutually beneficial cooperation, the department emphasized.
The Ministry of Commerce added that the resolution of this issue reflects mutual respect, understanding, and consideration of each other's concerns, sending a positive signal for the consolidation and deepening of bilateral trade and economic cooperation.
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