| Our Jamaica
|
|
| |
THE MANDATE OF THE ANTI-DUMPING AND SUBSIDIES COMMISSION
The Anti-dumping and Subsidies Commission is Jamaica's Trade Remedy Authority. The survival of domestic industry under the pressures of globalisation, and related risks of unfair competition from dumped or subsidised imports, provides the Anti-dumping and Subsidies Commission with the context for its core mandate: the investigation of unfair practices in international trade and the determination of remedies on behalf of domestic industry, within the framework of World Trade Organisation rules.
The Safeguard Act, which allows for the application of measures to defend domestic industries from some detrimental effects of increases in imports is also part of the work of the Commission.
The Commission is a portfolio agency of the Ministry of Industry, Investment and Commerce (MIIC) and has been in existence since 1999. The Commission administers the provisions of the Customs Duties (Dumping and Subsidies) Act, 1999 and the Safeguard Act, 2001, within the legal framework of the World Trade Organisation (WTO) Antidumping Agreement , Subsidies Agreement and Safeguards Agreement.
Globalisation as a phenomenon and international trade as a strategy for development and growth are among the most important areas on which governments and persons the world over are engaging. The Anti-dumping and Subsidies Commission is a key part of economic strategy and the public commitment to the defence of domestic production and enhancement of the trade environment for domestic industry.
WHAT ARE TRADE REMEDIES?
TRADE REMEDIES are measures taken at the border against imports in the form of tariffs or quotas that, within the WTO framework, can be utilised by a Member to defend its domestic industries in certain specific circumstances. There are three types of such remedies sanctioned by the WTO. They are anti-dumping duties, countervailing duties applied against subsidies, and safeguards. Each of the three is designed to counteract a specific type of challenge to a Member’s domestic industry.
Anti-dumping duties counteract the practice known as dumping, or what we can think of as “price dumping.” Dumping is the pricing strategy of a firm where an exported product is sold for less in the export market than in the home market. Though the practice of discriminatory pricing may be considered legitimate from a purely business standpoint, it is deemed unfair in international trade.
Countervailing duties are used to counteract subsidies where appropriate. Subsidies are financial contributions of a government which confer a benefit to an industry or firm producing the good and this can be addressed by countervailing duties where it causes material injury to the domestic producers in the importing country.
Safeguard measures can be used by a country to counteract serious injury to a domestic industry caused by an increase or “surge” in imports under certain unforeseen circumstances.
Anti-dumping and countervailing duties are utilised to counteract the unfair pricing of imports due to dumping or improper subsidies.
Safeguard measures permit “breathing room” for an injured or threatened industry, without a requirement that there be an unfair pricing strategy or trade practice.
Benefits of the Work of the Commission
The core mandate of the Anti-dumping and Subsidies Commission is to:
Foster equitable and fair competition in the domestic Jamaican market; allow for time for businesses to increase competitiveness, both in the domestic market and abroad; sustain viability of Jamaican industries and maintain jobs.
The Commission is poised to become a regional Centre of Excellence, which will assist CARICOM and the region to:
Foster the development regionally of international trade expertise and a regional trade remedies body, ultimately reducing costs to the local and regional governments, and even to local businesses, for international consultants in trade remedies.
|
|
| Take and View The Latest Polls |
|
|
| |