Kazakhstan will implement quota protection policy for hot rolled steel

Source: Ministry of Commerce website August 27, 2019

Almaty, September 26th, Kazakhstan’s Ministry of Trade and Integration released news that Kazakhstan will implement quota protection for imported hot-rolled steel under the framework of the Eurasian Economic Union policy.

According to the news, the import quota set by Kazakhstan for hot rolled steel products is12029 tons, a 20% tariff will be imposed on imported products that exceed the quota. The above quota will take effect from December 1, 2019. Quota and tariff policies do not apply to hot-rolled steel imported from developing countries, least developed countries (except North Korea), and parties to the CIS free trade agreement (except Ukraine). Under the quota framework, Kazakhstan still plans to import rolled steel products that its country cannot produce.

The Ministry of Trade and Integration of Kazakhstan stated that in the context of trade measures taken by the United States and the European Union, the implementation of special quotas will help protect the Kazakh domestic market and the share of Kazakh products in the Eurasian Economic Union market. Currently, Kazakhstan’s largest producer of hot rolled steel-Ancelo Mittal expressed support for the above measures.