14 Sep 2011 03:43 PM
Trade remedies are instruments to safeguard and defend the interest of domestic industry from unfair trade practice though anti-dumping, countervailing and safeguard measures in accordance with related World Trade Organisation (WTO) Agreements and national legislation.
Anti-dumping refers to offsetting the injury caused by dumping. Dumping is a practice whereby a company exports a product to foreign market at a price lower than it normally charges in its domestic market.
Countervailing is a measure to counter the effect of subsidy which refers to special assistance provided directly or indirectly by the government to specific enterprise or group of enterprises or industry or region.
Safeguards measure is an emergency measure in the event of increased imports of a particular product, when such imports have caused or threaten to cause serious injury to the domestic industry of the importing country.