Operationalising Trade Remedy Laws in Sri Lanka
Legislation crucial for Sri Lanka’s industrial sector, providing a mechanism for traders to mitigate potential harm caused by unfair trade practices, was issued–through a Gazette Notification in March– empowering domestic industries to submit requests to the Director General of Commerce to initiate investigations aimed at imposing anti-dumping or countervailing duties.
Such duties will be enforced following a thorough investigation conducted by the Department of Commerce, which is the designated authority for these inquiries, a Department of Commerce official told The Sunday Times Business on Thursday.
“Ultimately, the Director General of Commerce will make the final determination regarding the necessity of imposing these duties in line with the authority granted to the Minister of Trade, Commerce, Food Security, and Cooperative Development under the relevant legislation,” he said.
A media briefing was held at the Sri Lanka Foundation on Monday by the Ministry of Trade, Commerce, Food Security and Cooperative Development in collaboration with the Department of Commerce, introducing new regulations on Trade Remedy Laws.
Trade Remedy Laws were passed by the Parliament in 2018, which come in two Acts, namely, the Anti-dumping and Countervailing Duties Act No. 2 of 2018 and Countervailing Duties Act No. 3 of 2018. Sri Lanka has passed trade remedy laws, aligning with most WTO members. The International Trade Centre organised video-based training sessions for public and private sector representatives from May to June 2018 to enhance understanding and knowledge of these laws.
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