DCCI concerned over ‘unexpected treatment’ by India to Bangladeshi jute

Dhaka Chamber of Commerce and Industry (DCCI) has expressed concern over the ‘unexpected treatment’ by India’s agency concerned to jute imported from Bangladesh, reports UNB.
India’s anti-dumping authority has proposed 25-30 per cent duty on the jute imported from Bangladesh and Nepal based on the investigation outcome though there is no clear finding of injury caused by Bangladesh’s exported price and volume on Indian local finished producers.
“It’ll have negative cascading impacts on parties involved in our local jute supply chain process, export market and dampen glorious heritage of golden fiber of Bangladesh,” the trade body said in a statement yesterday.
It said when Bangladesh is working hard to improve and maintain a justified cross-border bilateral trade relation with India, this sort of decision is likely to be a blow to their endeavour.
“In this regard, our Ministry of Commerce, Tariff Commission and other government agencies concerned are requested to immediately take up the issue to review the entire technical process of anti-dumping investigation made,” said the DCCI.
They also sought negotiation with the Ministry of Commerce of India to reconsider this trade unfriendly decision to safeguard local jute industry in the greater interest of bilateral trade between Bangladesh and India.
Following the anti-dumping investigation into imports of jute goods from Bangladesh in 2015, the probe body Directorate General of Anti-Dumping and Allied Duties (DGAD) is going to propose imposition of anti-dumping duty on jute items imported from Bangladesh against accusation of Indian Jute Mills Association of lowered price and injury to domestic industry.
Bangladesh usually exports jute and jute goods, yarn, twine, sacks and bags worth around $900 million to many global destinations of which is 20 percent of Bangladesh’s export to Indian market.
“Our 20 percent jute export to India accounts for 8 percent of entire Indian local market share,” the DCCI observed.
If this proposed anti-dumping duty comes under effect, it could result adverse impacts on Bangladesh’s local growers, producers, exporters and spur further trade imbalance of Bangladesh with India, the DCCI added.

 

DCCI concerned over unexpected treatment by India to Bangladeshi jute

Dhaka Chamber of Commerce and Industry (DCCI) has expressed concern over the unexpected treatment by Indias agency concerned to jute imported from Bangladesh, reports UNB. Indias anti-dumping authority has proposed 25-30 per cent duty on the jute imported from Bangladesh and Nepal based on the investigation outcome though there is no clear finding of injury caused by Bangladeshs exported price and volume on Indian local finished producers. Itll have negative cascading impacts on parties involved in our local jute supply chain process, export market and dampen glorious heritage of golden fiber of Bangladesh, the trade body said in a statement yesterday. It said when Bangladesh is working hard to improve and maintain a justified cross-border bilateral trade relation with India, this sort of decision is likely to be a blow to their endeavour. In this regard, our Ministry of Commerce, Tariff Commission and other government agencies concerned are requested to immediately take up the issue to review the entire technical process of anti-dumping investigation made, said the DCCI. They also sought negotiation with the Ministry of Commerce of India to reconsider this trade unfriendly decision to safeguard local jute industry in the greater interest of bilateral trade between Bangladesh and India. Following the anti-dumping investigation into imports of jute goods from Bangladesh in 2015, the probe body Directorate General of Anti-Dumping and Allied Duties (DGAD) is going to propose imposition of anti-dumping duty on jute items imported from Bangladesh against accusation of Indian Jute Mills Association of lowered price and injury to domestic industry. Bangladesh usually exports jute and jute goods, yarn, twine, sacks and bags worth around $900 million to many global destinations of which is 20 percent of Bangladeshs export to Indian market. Our 20 percent jute export to India accounts for 8 percent of entire Indian local market share, the DCCI observed. If this proposed anti-dumping duty comes under effect, it could result adverse impacts on Bangladeshs local growers, producers, exporters and spur further trade imbalance of Bangladesh with India, the DCCI added.