CMA Kiran Kulkarni 27th Dec ’2017 CEP Program at

Transcript:CMA Kiran Kulkarni 27th Dec ’2017 CEP Program at:
CMA Kiran Kulkarni 27th Dec ’2017 CEP Program at Aurangabad Open Economy policy – new trade and commerce Globalization, free and fair trade, WTO, GATT Anti Dumping, Subsidy & safeguards measures General issues repeatedly faced by the domestic industries Trade defence , material injury , safeguard measures ADD measures injury which may be caused by new producer intending to enter into being catered by imports. This form of injury is known as “ material retardation to establishment of an industry “ Three kinds of trade defense instruments being widely used by the producers world over against cheaper imports i.e. A) ADD- when foreigner producers resorts to discriminatory pricing. i.e. charging lower price in it’s own market and exporting at lower price in the foreign price ( importing country ) Means compilation of remedies for faults received from trade and commerce. B) CVD known as subsidy duties – when some benefits are being received on continues basis by the foreigner producer and had being confirmed. To that extent price comparison has to be made to cover up interest of domestic producers. C) Safeguard measures are applied in the event of sudden increase in the imports short period, comparable to the prices in the exporting country markets. This kind is instruments can be accidently utilised for safeguard domestic industries and are being applied for all countries without any barriers of the agreements. History of trade defence laws Initially to protect interest of domestic industries for developed countries One of the criticism i.e. “ Protectionist “ First in Canada in the year of 1904 { Steel rails } , 1905 New Zealand { Farm equipments } ,1906 Australian for generic problems. At the end of nineteenth century , global industrialization led to increased concern for the domestic effects of international trade, and international tariff structures faced problems of application {money } efficiency { Operationalisation } The GATT resulted into round the table creation of ITO { international trade organisation } held in Geneva in 1947, where united states provided basic working documents and charter which contains most of the provisions which are now in Article VI of General Agreement on Tariffs and Trade ( GATT, 1947 ) Second World War and great reforms in GATT GATT rules are binding on the WTO members India entered in the year of 1994. Mainly in the sectors of Chemical, Plastic, Rubber, Wood, Wood article, yarn and