The Union Cabinet, chaired by the Prime Minister Shri 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 & Tariff Commission, People's Republic of Bangladesh on the establishment of a framework of cooperation in the area of trade remedial measures signed on 27^th March, 2021 at Dhaka.

Objectives

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.

Trade remedies cooperation establishes framework for information exchange and capacity building between India and Bangladesh A Memorandum of Understanding between the Director General of Trade Remedies, Republic of India, and the Bangladesh Trade & Tariff Commission creates a framework for cooperation on Trade Remedies, focusing on exchange of information, capacity building, and actions consistent with World Trade Organization rules for anti-dumping, countervailing and safeguard measures to discourage unfair trade practices and promote rule-based bilateral trade.