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Morocco Launches Investigation Into Iron Market Glut

Image via Reuters
Image via Reuters
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Morocco Launches Investigation Into Iron Market Glut

Image via Reuters
Image via Reuters

The Moroccan Ministry of Industry, Investment, Trade, and Digital Economy has launched an investigation into a glut of iron and steel sheets in the market. The investigation is expected to take up to nine months extendable to one year.

This came as a response to a complaint by Maghreb Steel and feedback issued by the import control committee in this regard during its latest meeting on May 22.

The ministry said that Moroccan imports of relevant products rose 31 percent during 2017-2018 and increased 54 percent between 2014-2018. It attributed this rise to updated conditions including the increased global productivity of steel and iron products, the intensity of commercial war and the countries seeking refuge in protective procedures.

Maghreb Steel underwent huge damage due to the rise of imports coinciding with the drop of sales, product, and the company’s share in the market, as well as its exports’ volume – the statement of the ministry, added that Maghreb Steel’s situation is threatened to worsen in the near future.

The ministry also addressed companies concerned in Maghreb Steel's complaint with questionnaires. It determined July 4 as a deadline for relevant parties to express their points of view and pass their written remarks.

Iron and steel sheets are of great significance to Morocco within the expansion in the automobiles sector – high hopes are pinned on this sector to rescue Maghreb Steel from its crisis and keep it distant it from having the fate of other iron products' companies.

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Saudi Arabia Makes History with Adoption of Riyadh Treaty on Design Law

Photo of the Riyadh Diplomatic Conference on the Design Law Treaty (Asharq Al-Awsat)
Photo of the Riyadh Diplomatic Conference on the Design Law Treaty (Asharq Al-Awsat)
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Saudi Arabia Makes History with Adoption of Riyadh Treaty on Design Law

Photo of the Riyadh Diplomatic Conference on the Design Law Treaty (Asharq Al-Awsat)
Photo of the Riyadh Diplomatic Conference on the Design Law Treaty (Asharq Al-Awsat)

Saudi Arabia has made history by uniting the 193 member states of the World Intellectual Property Organization (WIPO) to adopt the Riyadh Treaty on Design Law. This landmark achievement, realized after two decades of deliberation, underscores the Kingdom’s leadership in enhancing the global intellectual property system.

The announcement came at the conclusion of the Riyadh Diplomatic Conference on the Design Law Treaty, a rare event for WIPO, which has not held a diplomatic conference outside Geneva for more than a decade. It was also the first such event hosted in Saudi Arabia and the Middle East, representing the final stage of negotiations to establish an agreement aimed at simplifying and standardizing design protection procedures across member states.

Over the past two weeks, intensive discussions and negotiations among member states culminated in the adoption of the Riyadh Treaty, which commits signatory nations to a unified set of requirements for registering designs, ensuring consistent and streamlined procedures worldwide. The agreement is expected to have a significant positive impact on designers, enabling them to protect their creations more effectively and uniformly across international markets.

At a press conference held on Friday to mark the event’s conclusion, CEO of the Saudi Authority for Intellectual Property Abdulaziz Al-Suwailem highlighted the economic potential of the new protocol.

Responding to a question from Asharq Al-Awsat, Al-Suwailem noted the substantial contributions of young Saudi men and women in creative design. He explained that the agreement will enable their designs to be formally protected, allowing them to enter markets as valuable, tradable assets.

He also emphasized the symbolic importance of naming the convention the Riyadh Treaty, stating that it reflects Saudi Arabia’s growing influence as a bridge between cultures and a global center for innovative initiatives.

The treaty lays critical legal foundations to support designers and drive innovation worldwide, aligning with Saudi Arabia’s vision of promoting international collaboration in the creative industries and underscoring its leadership in building a sustainable future for innovators.

The agreement also advances global efforts to enhance creativity, protect intellectual property, and stimulate innovation on a broader scale.

This achievement further strengthens Saudi Arabia’s position as a global hub for groundbreaking initiatives, demonstrating its commitment to nurturing creativity, safeguarding designers’ rights, and driving the development of creative industries on an international scale.

The Riyadh Diplomatic Conference, held from November 11 to 22, was hosted by the Saudi Authority for Intellectual Property and attracted high-ranking officials and decision-makers from WIPO member states.