Effective implementation of dumping, anti-dumping and countervailing measures have been underscored to stall unfair trade practices as it is imperative to ensure fair completion.
Such fair run of trade provides deserved guardrails around domestic industries in order stall dumping of foreign products to undercut growth of local ones.
The urgency was raised by Commerce Adviser Sheikh Bashiruddin and business leaders at a meet in the city Monday.
The dumping, anti-dumping and countervailing measures
come for a recheck at during the daylong seminar titled 'Anti-dumping, Countervailing, and Safeguard Measures' held Monday at the Federation of Bangladesh Chambers of Commerce and Industry (FBCCI) conference room.
The event was organised under the Capacity Building Project of the Bangladesh Trade and Tariff Commission (BTTC), in the wake of multifarious wrongs on the trade-and business front.
Sheikh Bashiruddin underscored the vital role of BTTC in recommending trade-related duties to the government.
"The chairman of the commission serves as the government-appointed authority for providing expert advice on such measures," the commerce adviser of the interim government reminds.
The adviser put emphasis on raising awareness among stakeholders, including government officials, traders, entrepreneurs, exporters, and importers, about the significance of anti-dumping and safeguard mechanisms in ensuring fair competition and thus protecting local industries.
Speakers at the seminar provided detailed insights into the concepts of dumping, anti-dumping, countervailing, and safeguard duties on products.
They explained that provisions for imposing these duties, aligned with relevant WTO agreements, have been incorporated into the Customs Act 1969 and the Bangladesh Tariff Commission (Amendment) Act 2020.
They also said condition of domestic industries is carefully reviewed through investigations before such measures are implemented.
Commerce Secretary Selim Uddin, North South University faculty Dr Md Rizwanul Islam and FBCCI Administrator Md Hafizur Rahman were present at the event, chaired by BTTC chairman Dr Mainul Khan.
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