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EU sets entrance duties on Belarus’ steel bars for 5 years

The EU is setting entrance duties on Belarusian steel bars. The OJSC “Belarusian Steel Works” is the only exporter of the steel products to the European market.

Complaints against the plant were announced at the beginning of 2016.

The complaints were about the plant increasing the export to the countries of the Old World for a price which is more than 1.5 times less than the market price.

The products of the plant were set duties on of 12.5% in December of 2016.

The European Comission made a final decision on June 17, 2017.

It will last for five years. Acoording to the made announcement, the measure will protect local producers. The EU market is one of the main markets for the Belarusian steel works.The plant closely cooperates with many car manufacturers, building and other companies.

EU sets entrance duties on Belarus’ steel bars for 5 years