Indian cabinet okays trade remedial MoU with Bangladesh

Diplomatic Correspondent

21 April, 2021 12:00 AM printer

The Cabinet of India has given its ex post facto approval to the Memorandum of Understanding (MoU) between Bangladesh and India on the establishment of a framework of cooperation in the area of trade remedial measures.

Prime Minister Narendra Modi chaired the cabinet meeting held on Tuesday, said a press release of the Press Information Bureau of India (PIB).

The MOU seeks to foster better cooperation between the relevant authorities of both countries to discourage unfair trade practices and promote rule-based bilateral trading between the two countries.

The Director-General of Trade Remedies of India and the Bangladesh Trade & Tariff Commission signed the deal on 27 March 2021 in Dhaka.

The objective of the MOU is to promote cooperation between the two countries in the area of trade remedies, covering the broad activities related to exchange of information, undertaking capacity building activities and activities in accordance with various provisions of the World Trade Organization in the area of anti-dumping, countervailing and safeguard measures in bilateral trade between India and Bangladesh.