Business Desk :
In response to a request from the Bangladesh government and producers-exporters, India has agreed to hold another hearing on March 14 before taking its final decision on imposing anti-dumping duty on import of hydrogen peroxide from Bangladesh.
The commerce ministry and three local producers-exporters made the request after the Director General of Anti-Dumping and Allied Duties of India on February 16 had issued the disclosure statement determining the dumping margin up to 30 per cent for the firms.
The DGAD recently informed the decision of holding the hearing to the commerce ministry and the three companies – Tasmin Chemical Complex, ASM Chemical Industries and Samuda Chemical Complex Limited.
Officials of the commerce ministry and businesses said that they would attend the hearing to present their arguments against the proposed anti-dumping duty upto 30 per cent on export of the product from Bangladesh.
The hearing will be held at DGAD headquarters in New Delhi, they said, adding that representatives from the commerce ministry, Bangladesh Tariff Commission and exporter firms would place their arguments at the hearing.
Representatives of Indian producers will also attend the hearing, they said.
‘The decision has brought a scope of proving that Bangladesh does not make any dumping of hydrogen peroxide to India. Rather, the DGAD has made a wrong in calculation of dumping margin,’ a high official of the commerce ministry told The New Nation.
He said that two previous hearings were held based on the Indian petitioners’ documents only and this time the hearing would be held on the disclosure statements of the DGAD.
‘So, we expect a positive outcome from the hearing,’ the official said.
The DGAD on March 2015 started an investigation against six countries – Bangladesh, Pakistan, Taiwan, South Korea, Indonesia and Thailand – for suspected dumping of the product to India and the investigation is scheduled to be completed by April 13 this year.
The DGAD will issue its final determination or decision on the matter after considering the responses made by the parties concerned and will place its recommendations to the India’s finance ministry.
Dumping occurs when a company exports a product to any country at prices lower than the normal value (the domestic price or the cost of production) of the product in its domestic market.
Samuda Chemical Complex Ltd chief financial officer Mohammad Akramuzzaman told The New Nation that they expected a positive result from the hearing as the company did not make any dumping.
‘We will present our observation regarding disclosure statement of the DGAD as we have found the calculation process wrong in determining dumping margin,’ he said.
‘Rather, there will be negative dumping by 9.34 per cent for Samuda if the DGAD considers our observations.’
According to the Export Promotion Bureau, Bangladesh exported hydrogen peroxide worth $5.48 million to India in the fiscal year 2015-2016 while the total export earnings from the product was $7.56 million in the period.
Hydrogen peroxide is one kind of chemical used mainly in textile industry for bleaching and sterilising, oxidising, detoxifying and deodorising purposes.
In response to a request from the Bangladesh government and producers-exporters, India has agreed to hold another hearing on March 14 before taking its final decision on imposing anti-dumping duty on import of hydrogen peroxide from Bangladesh.
The commerce ministry and three local producers-exporters made the request after the Director General of Anti-Dumping and Allied Duties of India on February 16 had issued the disclosure statement determining the dumping margin up to 30 per cent for the firms.
The DGAD recently informed the decision of holding the hearing to the commerce ministry and the three companies – Tasmin Chemical Complex, ASM Chemical Industries and Samuda Chemical Complex Limited.
Officials of the commerce ministry and businesses said that they would attend the hearing to present their arguments against the proposed anti-dumping duty upto 30 per cent on export of the product from Bangladesh.
The hearing will be held at DGAD headquarters in New Delhi, they said, adding that representatives from the commerce ministry, Bangladesh Tariff Commission and exporter firms would place their arguments at the hearing.
Representatives of Indian producers will also attend the hearing, they said.
‘The decision has brought a scope of proving that Bangladesh does not make any dumping of hydrogen peroxide to India. Rather, the DGAD has made a wrong in calculation of dumping margin,’ a high official of the commerce ministry told The New Nation.
He said that two previous hearings were held based on the Indian petitioners’ documents only and this time the hearing would be held on the disclosure statements of the DGAD.
‘So, we expect a positive outcome from the hearing,’ the official said.
The DGAD on March 2015 started an investigation against six countries – Bangladesh, Pakistan, Taiwan, South Korea, Indonesia and Thailand – for suspected dumping of the product to India and the investigation is scheduled to be completed by April 13 this year.
The DGAD will issue its final determination or decision on the matter after considering the responses made by the parties concerned and will place its recommendations to the India’s finance ministry.
Dumping occurs when a company exports a product to any country at prices lower than the normal value (the domestic price or the cost of production) of the product in its domestic market.
Samuda Chemical Complex Ltd chief financial officer Mohammad Akramuzzaman told The New Nation that they expected a positive result from the hearing as the company did not make any dumping.
‘We will present our observation regarding disclosure statement of the DGAD as we have found the calculation process wrong in determining dumping margin,’ he said.
‘Rather, there will be negative dumping by 9.34 per cent for Samuda if the DGAD considers our observations.’
According to the Export Promotion Bureau, Bangladesh exported hydrogen peroxide worth $5.48 million to India in the fiscal year 2015-2016 while the total export earnings from the product was $7.56 million in the period.
Hydrogen peroxide is one kind of chemical used mainly in textile industry for bleaching and sterilising, oxidising, detoxifying and deodorising purposes.
