Dhaka: Dhaka Chamber of Commerce and Industry (DCCI) has urged the authorities concerned in Bangladesh to immediately take up the issue to dismantle India's anti-dumping duty imposition that hurts Bangladesh's jute industry.

In a bid to discourage the imports of jute goods from Bangladesh to India, the Directorate General of Anti-Dumping and Allied Duties (DGAD) proposed imposition of anti-dumping duty on jute items imported from Bangladesh against accusation of lowered price and injury to domestic industry by Indian Jute Mills Association.

The DCCI in a statement on Saturday urged the Ministry of Commerce, Ministry of Finance, Tariff Commission and other agencies concerned of Bangladesh to negotiate the issue with Indian authorities.

Bangladesh, despite being the largest export destination of India in South Asia, is working hard to improve and maintain a justified cross-border bilateral trade relation with India and this sort of decision is likely to work as a blow to the endeavour, the DCCI claimed.

The chamber body sought steps so that the Indian Ministry of Finance refrain from this sort of 'trade unfriendly decision' in order to safeguard local jute industry and keep the bilateral trade spree flourish in the days to come.

The Ministry of Finance, the government of India has imposed anti-dumping duty ranging $8 to $350 per tonne, originating in Bangladesh and Nepal based on the investigation outcome though there is no clear finding of injury caused by Bangladesh's exported price and volume on Indian local finished producers, the DCCI said.

Bangladesh usually exports processed jute made goods i.e. yarn, twine, sacks and bags worth around $700 million to many world destinations of which Indian market accounts for 20 percent equivalent to 8 percent of entire Indian local market share and this insignificant percentage cannot anyway dump their local jute market.

Even though, the average industry injury margin assessed by DGAD was 25 percent less than required, said the DCCI.

It said this proposed anti-dumping duty imposition could result adverse multiplier impacts on our local growers, producers, exporters and spur further trade imbalance of Bangladesh with India.

‘DCCI is concerned about the iniquitous treatment of Ministry of Finance, government of India on our jute which will have negative cascading impacts on parties involved in our local jute supply chain process, export market and dampen glorious heritage golden fibre of Bangladesh as whole our $6.5 Billion bilateral trade,’ the statement read.