India may analysis anti-dumping duty on jute goods
India has assured that its anti-dumping duty on jute goods of Bangladesh could possibly be reviewed according to the latter's plea, said a good senior commerce ministry official of Bangladesh.
The assurance came yesterday after a two-day commerce secretary-level meeting between your two countries at InterContinental Hotel in Dhaka. The state, asking never to be called, was in the Bangladesh delegation.
The delegations were led by Anup Wadhawan, Indian commerce and industries secretary, and Md Jafar Uddin, Bangladesh's commerce secretary, respectively.
Anti-dumping duty possesses been one of the widely discussed bilateral trade issues going back couple of years.
India wants Bangladesh to reduce subsidy on jute while the latter wants the anti-dumping duty's withdrawal.
At the interacting with, Bangladesh demanded signing of a thorough financial partnership agreement (Cepa) between your two next six months, said the commerce ministry official.
However, India sought additional time for the Cepa as a consensual feasibility analysis was ongoing, he explained.
Both want to signal a Cepa rather than a free of charge trade agreement (FTA) foreseeing bigger bilateral trade and investment and mutual recognition of sanitary and phytosanitary certifications, intellectual property legal rights issues, testing and transport of goods, work and border issues.
Simply signing an FTA won't cover all these because both are interdependent on the subject of global value chains in connection to some important business.
India isn't just a major way to obtain cotton, yarn and textile chemical substances but also foreign direct purchase for Bangladesh, standing due to its second major import vacation spot after China.
Bangladesh annually imports above $8 billion worthy of of goods from India through formal stations in fact it is believed an equal amount is usually smuggled in through informal kinds as the duo share a border of more than 4,000 kilometres.
In yesterday's assembly, the Bangladesh delegation also brought up complaints over a newly formulated Indian customs guidelines, saying shipment of goods to the neighbouring country was being affected.
India also asked Bangladesh to improve value addition to in least 30 % on export of edible oil.
Currently, Indian customs are reluctant to simply accept the Export Promotion Bureau's recognition in export of edible oil as the value addition will not reach a 30 per cent threshold.
The Indian side said the existing degree of value addition on edible oil from Bangladesh was almost 20 %, said the meeting source.
A commerce ministry assertion said the delegations also discussed tariff and non-tariff duties, increasing the amount of border haats and regional connectivity, expanding bilateral trade and progresses built through previous meetings.
