The agreement seeks to discourage unfair trade practices and promote rule-based bilateral trading
The Indian Cabinet, chaired by Prime Minister Narendra Modi, has given its ex post facto approval to the Memorandum of Understanding (MoU) between India and Bangladesh on the establishment of a framework of cooperation in the area of trade remedial measures.
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, said the Press Information Bureau of India on Tuesday.
The Indian High Commissioner and Senior Commerce Secretary Md Jafar Uddin exchanged the MoU on the establishment of a framework of cooperation in the area of trade remedial measures between Bangladesh and India on March 27.
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.