Press briefing of Cabinet Decision taken on 2016-10-18

Enactment of Anti-Dumping, Countervailing and Safeguard Legislation in Sri Lanka

- The joint proposal made by Hon. Rishad Bathiudeen, the Minister of Industry and Commerce and Hon. Malik Samarawickrama, the Minister of Development Strategies and International Trade, to publish the "Anti-Dumping and Countervailing Duties Bill' containing provisions for the imposition and investigation of "Anti-Dumping Taxes" against the introduction of imported goods to the local market at a lower price than their actual value and "Countervailing Taxes" against the entry into local market of imported goods at unusually low prices due to the various concessions granted by foreign governments, in order to deal with the unfair trade practices carried out by certain countries and protect the local industries and manufacturers from the goods imported to Sri Lanka without control and the "Safeguard Measures Bill' that provides for the conduct of investigations and the application of safeguard measures on products imported into Sri Lanka, in the Government Gazette, subject to obtaining clearance for same from the Attorney General and thereafter present the same in the Parliament for approval, was approved by the Cabinet.