Anti-dumping duty can`t be delayed anymore
MEDIA report in a National daily on Tuesday said Bangladesh has so far failed to initiate any anti-dumping investigation in 25 years, though the National Board of Revenue (NBR) had framed rules for it in 1995. The report has blamed non-cooperation of local businesses in this regard.Â Meanwhile, cheaper imports were harming the growth of the country's manufacturing sector but trade bodies refrained from making formal request for imposing anti-dumping laws. They also didn't provide Bangladesh Trade and Tariff Commission (BTTC) the required data to initiative any investigation.
It appears that the tariff commission in the past failed to open investigation over dumping of yarn, TV panel, electric and electronics goods. The commission's attempt in 2007-08 to investigate dumping of bicycle, toothpaste, ball point pen, powdered milk and such other products had to be similarly abandoned. It is sad that we have a totally corrupt government overtly controlled by business groups. Most government leaders are also businessmen and complicit to import of cheaper imports to become rich overnight, though it continuously hurt local industry. Â
Dumping means subsidized exports by the producing country which elbow out local manufacturing in Bangladesh. It also causes NBR to lose huge import duty.Â Bangladesh is allowed use anti-dumping duty but following some World Trade Organization (WTO) rules. It needs to prove that dumping is harmingÂ Â local industry which is now quite urgent in our situation.Â The report said India and Pakistan are dumping yarns to Bangladesh while many others are dumping other products. It is taking place in collusion with a section of local traders who supply low cost and poor quality products to capture local market.
Though belated, Bangladesh Textile Mills Association (BTMA) has urged the government to levy anti-dumping duty on import of Indian and Pakistani yarns. Earlier, Bangladesh Electrical, Electronics and Home Appliances Manufacturers and Exporters Association (BEEMEA) also made similar pleas to Bangladesh tariff commission to regulate import of cheaper electrical and electronics goods. But it so far continues unabated. Â
We would say it makes sense at this point for trade bodies to closely cooperate with the regulatory bodies while the government must lend political support behind it. A section of traders can't be allowed to harm the country's efforts to develop its manufacturing base.