Antitrust & Antidumping Legal Services in Bangladesh
Dumping basically refers to a situation where the products of one country enter into the commercial territory of another country at a price less than its normal value in the ordinary course of trade compared to similar products of the country in which it has been exported. Bangladesh, being an active member of the World Trade Organization (WTO), is subject to international trade with several European and Asian countries. As a third world country, Bangladeshi products, at times, are faced with various unfair trade practices e.g. dumping and anti-trust issues. One of the major reasons behind such unequal treatment is because Bangladesh lacks the economic strength to enter into a win-win agreement with its mighty international trading partners. It is very difficult to even reach a fair bilateral agreement or even negotiate over trading disputes because the big countries always use their political and economic leverage to get the upper hand. While WTO has its dispute resolution avenue with experts appointed to ensure fair trade, there is not enough awareness within the Bangladeshi entrepreneurs about the issue and most are reluctant to pursue the matter further as it could mean further isolation from international trade.
Bangladeshi products are now widely available in the international markets and is proving to be quite competitive due to the quality, price and export-friendly laws of Bangladesh. However, often these business enterprises are faced with trade barriers, both tariff and non-tariff related. Bangladeshi entrepreneurs have also alleged that they are losing competitivenessfor dumping price of fabrics and yarn by India. The Trade Remedies Division of Bangladesh Tariff Commission is responsible for protecting the interest of local industries by preventing unfair trade. If any foreign product is exported to Bangladesh at less than its factory price, it is dumping and injurious to local industries and is considered as unfair trade. In this situation, anti-dumping duties can be imposed to protect local industries from such injury.Under section 18B of the Customs Act 1969 any imported goods coming into Bangladesh at a price less than their usual price then the Government shall impose, by way of notification in the Official Gazette, impose an anti-dumping duty not exceeding the margin of dumping in relation to such goods.
Such malicious activities are subject to levy of anti-subsidy or anti-dumping duty. Bangladesh also adopts safeguard measures in order to control the rising imports of the products acting in breach of WTO agreement of upholding unfair trade practices.
With FMA, both local and international clients can be assured of expert lawyers with professional qualifications on antitrust and antidumping issues. We provide extensive research assistance and also conduct litigation services in relation to competition laws and safeguarding client’s interests in both Bangladesh and in the international jurisdictions.