Jute goods exporters to get 15pc incentive
Gazi Anowarul Hoque :
The government is likely to give 15 percent cash incentive to exporters on jute diversification goods with a view to making local exportable products competitive in the global market, industry insiders said.
The Textile & Jute Ministry sources said, the current government declared the jute diversification goods as agricultural products. This initiative has been taken to bring back the past glory of jute.
In October, the Directorate General of Anti-Dumping and Allied Duties (DGAD) under India’s Commerce Ministry opened the probe as part of its plan to impose anti-dumping duty on jute items imported from Bangladesh.
The DGAD recommended for 25-30 percent anti-dumping duty on jute export from Bangladesh to protect Indian local jute industry.
An anti-dumping duty is a protectionist tariff that a government imposes on foreign imports thinking that the prices are below the market value. Dumping is a process where a company exports a product at a price lower than the price it normally charges on its own home market.
The move may come to effect within 90 days that could deal a heavy blow to the Bangladeshi jute millers and exporters.
This initiative of cash incentive for Bangladeshi jute exporters would sustain them in the competitive global market except India, the ministry sources said.
Dr Md Mahmudul Hasan, Chairman of Bangladesh Jute Mills Corporation, told the New Nation on Tuesday that jute is declared as agro products now and government would consider giving special incentive to the producers of jute goods.
For the sustainability of about $1billion of jute goods export market and half a million of job including growers, we are to take the good decision, he added.
State Minister for Textile & Jute Ministry Mirza Azam, MP, said Jute goods is a highly potential export item for Bangladesh and the government has been offering minimum 15 percent cash incentives to boost the exports in this sector.
Emphasizing the alternative export destination, the State Minister said that jute has been declared as agro products now and the government would consider giving special incentive to the producers of jute goods to export before observing the ‘National Jute Day’ from 6th March 2017.
The government is likely to give 15 percent cash incentive to exporters on jute diversification goods with a view to making local exportable products competitive in the global market, industry insiders said.
The Textile & Jute Ministry sources said, the current government declared the jute diversification goods as agricultural products. This initiative has been taken to bring back the past glory of jute.
In October, the Directorate General of Anti-Dumping and Allied Duties (DGAD) under India’s Commerce Ministry opened the probe as part of its plan to impose anti-dumping duty on jute items imported from Bangladesh.
The DGAD recommended for 25-30 percent anti-dumping duty on jute export from Bangladesh to protect Indian local jute industry.
An anti-dumping duty is a protectionist tariff that a government imposes on foreign imports thinking that the prices are below the market value. Dumping is a process where a company exports a product at a price lower than the price it normally charges on its own home market.
The move may come to effect within 90 days that could deal a heavy blow to the Bangladeshi jute millers and exporters.
This initiative of cash incentive for Bangladeshi jute exporters would sustain them in the competitive global market except India, the ministry sources said.
Dr Md Mahmudul Hasan, Chairman of Bangladesh Jute Mills Corporation, told the New Nation on Tuesday that jute is declared as agro products now and government would consider giving special incentive to the producers of jute goods.
For the sustainability of about $1billion of jute goods export market and half a million of job including growers, we are to take the good decision, he added.
State Minister for Textile & Jute Ministry Mirza Azam, MP, said Jute goods is a highly potential export item for Bangladesh and the government has been offering minimum 15 percent cash incentives to boost the exports in this sector.
Emphasizing the alternative export destination, the State Minister said that jute has been declared as agro products now and the government would consider giving special incentive to the producers of jute goods to export before observing the ‘National Jute Day’ from 6th March 2017.
