New Delhi, April 20: The Union Cabinet, chaired by the Prime Minister Mr. Narendra Modi has given its ex post facto approval to the Memorandum of Understanding (MoU) between the Director General of Trade Remedies, Republic of India and the Bangladesh Trade and Tariff Commission, People’s Republic of Bangladesh on the establishment of a framework of cooperation in the area of trade remedial measures signed on 27th March, 2021 at Dhaka.
The primary 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 World Trade Organization in the area of anti-dumping, countervailing and safeguard measures in bilateral trade between India and Bangladesh.
The MOU seeks to foster better cooperation between the relevant authorities of both the countries so as to discourage unfair trade practices and promote rule based bilateral trading between the two countries.
