Cabinet approves MoU between India, Bangladesh to increase cooperation in trade remedies

The Union Cabinet on Tuesday gave its ex post facto approval to a Memorandum of Understanding MoU between Indias Director General of Trade Remedies and the Bangladesh Trade and Tariff Commission to increase cooperation in the area of trade remedies, an official statement said.

The Union Cabinet on Tuesday gave its ex post facto approval to a Memorandum of Understanding (MoU) between India's Director General of Trade Remedies and the Bangladesh Trade and Tariff Commission to increase cooperation in the area of trade remedies, an official statement said. The MoU was signed on March 27 in Dhaka. The primary objective of the MoU is to promote cooperation between the two countries in the area of trade remedies, exchange of information, undertaking capacity building activities and activities in accordance with various provisions of World Trade Organization (WTO) in the area of anti-dumping, countervailing and safeguard measures in bilateral trade between the countries. The MoU seeks to foster better cooperation between the relevant authorities of both the countries so as to discourage unfair trade practices and promote rule based bilateral trading, the statement added.