Bangladesh requests India not to extend tenure of ADD on jute goods

26 Dec '22

2 min read

Pic: Shutterstock

Bangladesh commerce minister Tipu Munshi, during a recent visit to India, requested Indian counterpart Piyush Goyal not to extend the tenure of anti-dumping duty (ADD) on the import of jute and jute goods from his country that was imposed on January 5, 2017, will end on December 31 this year. He was assured that Indian authorities would look into the issue.

The ADD ranges from $19 to $351.72 a tonne.

Others issues like the Comprehensive Economic Partnership Agreement, removal of non-tariff barriers and import of essential commodities were discussed as well.

India’s Directorate General of Trade Remedies recommended in October this year that the Indian finance ministry should continue the ADD on jute products from Bangladesh and Nepal at the existing rate for five more years from the date of the notification to be issued by the government.

The Indian side has suggested that an alternative could be that the quantity exported before the ADD was imposed would get duty-free facility, while the ADD would be applicable to the quantity that would be exceed the amount imported before the ADD was imposed, an English-language daily in Bangladesh reported.

If the alternative proposal is accepted, approximately two lakh tonnes of Bangladeshi jute goods may get duty-free market access in India.

Bangladesh’s jute goods exports to India in July-November of fiscal 2022-23 fell to 31.84 million tonnes from 33.63 million tonnes in the same period of the earlier fiscal.

Fibre2Fashion News Desk (DS)

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