INDIA PUSHES BANGLADESH TO REVERSE BILLET IMPORT DUTIES, CITING REGIONAL TRADE DEAL
August 1st, 2016
India is pushing neighbouring Bangladesh to scrap its recent increase in billet import duties, saying it breaks commitments made under the regional free trade accord, the South Asian Free Trade Area (SAFTA). The Indian government acted after Bangladesh imposed two types of tariffs on steel billets imported from India in its budget for the 2016-17 financial year, announced in July. This imposed a 20% special ‘regulatory’ duty and 15% value added tax (VAT) on imported billet, (thus far only been levied on domestically-produced billet), following demands from ...
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