Anti-Dumping Bill Gazetted Protection for Local Industries
By Paneetha Ameresekere
Sri Lanka recently gazetted its Anti-Dumping and Countervailing Duties Bill, which seeks to protect local industries from 'unfair competition' due to imports.
"Anti-dumping duties shall take the form of ad valorem or specific duties, and shall be imposed in addition to other import duties levied on the imported products concerned," the gazette notification said.
"The Finance Minister may apply an anti-dumping duty rate, for imports, from exporters and producers not known to the Customs Director-General (DG) at the time a final determination was made, where such anti-dumping duty rate shall not exceed the weighted average of the individual Imposition and collection of anti-dumping duties.
dumped imports shall generally be regarded as negligible, if the volume of dumped imports of the investigated product from a particular country is found to account for less than three per cent of total imports of the investigated and like product in Sri Lanka, unless imports of the investigated product from all countries under investigation which individually account for less than three per cent of the total imports of the investigated and like product in Sri Lanka, collectively account for more than seven per cent of imports of the investigated and like product in Sri Lanka," the notification added.
The gazette said that anti-dumping duties (ADD) may be imposed on products imported into Sri Lanka, where the DG determines the investigated product is being dumped; there is injury being caused to the Sri Lankan industry and there exists a causal link between the dumping and the injury caused.
An investigation shall be initiated upon a written application made by or on behalf of a Sri Lankan industry, accompanied by such fee as may be prescribed, the gazette notification said.
It would be the duty of the DG, except in special circumstances, to conclude an anti-dumping investigation within a 12-month period of its initiation and in no case more than a period of 18 months of its initiation.
The notification adds, "The DG shall make a preliminary determination of dumping, injury and causal link not earlier than a two month period and not later than a five month period of after initiation of the investigation based on all information available to the DG at that time.
Costs shall generally be calculated on the basis of records maintained by the exporter or producer under investigation, provided that such records are maintained in accordance with generally accepted accounting principles of the exporting country and reasonably reflect the costs associated with the production and sale of the like product."
The gazette notification said added, "The export price of an investigated product shall be the price actually paid or payable for the investigated product when sold for export from the exporting country to Sri Lanka, the gazette said.
"The 'dumping margin' shall be established on the basis of a comparison of a weighted average normal vale with a weighted average of prices of all comparable export transactions, or by a comparison of normal value and export prices on a transaction to transaction basis.
"The DG shall allow exporters not less than 60 days to adjust their export prices. The DG shall as a rule, determine an individual dumping margin for each known exporter or producer of the investigated product."
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