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. Last Updated: 07/27/2016

Kiev Orders Inquiry Into Dumping

KIEV -- President Leonid Kuchma has ordered an investigation into charges that a number of Ukrainian companies were engaged in widespread dumping on world markets and called for stiff penalties against offenders.

Kuchma issued a decree setting up a commission to examine practices of selling goods, mainly metals and other raw materials, well below established prices on world markets.

"The commission is authorized to impose penalties if anti-dumping action is taken against firms or if such action is threatened," read the decree, issued Thursday. "In export-import operations, prices must correspond to those prevailing on export and import markets."

The commission, headed by new Foreign Trade Minister Serhiy Osyka, was empowered to prepare legislation for the scrutiny of parliament conforming to regulations set down by the General Agreement on Tariffs and Trade.

Many Ukrainian firms face legal action on charges of selling goods, mainly metals, at cut-rate prices, particularly in the United States and Canada.