New Delhi, Sept 5 (KNN) Colombia has notified the World Trade Organisation (WTO) that it has initiated safeguard investigation on iron, steel bars and wire which could also affect the Indian export to the country.  

In its notification, Colombia has invited interested parties to express their views on it and informed them about the initiation of the investigation process. 

Meanwhile, India is one of the largest exporters of steel and iron. The move could affect exports from India to Colombia.  

A safeguard investigation seeks to determine whether increased imports of a product are causing or is threatening to cause serious injury to a domestic industry.

During a safeguard investigation, importers, exporters and other interested parties may present evidence and views and respond to the presentations of other parties.

A WTO member may take a safeguard action (i.e. restrict imports of a product temporarily) only if the increased imports of the product are found to be causing or threatening to cause, serious injury. (KNN/GUNJ)