Sri Lanka has won the its first-ever revocation of countervailing duty imposed in the US for a Lankan export, thanks to the continued pursuit of the Department of Commerce of Sri Lanka.
“I praise the officials of the Department of Commerce for their committed work to win this judgment in favour of Sri Lanka” said Minister of Industry and Commerce Rishad Bathiudeen on Monday upon learning about the decision of US Court of International Trade.
“This will greatly help our Ministry’s efforts to enhance manufacturing exports, specially rubber products. This helps to strengthen our trade with US as well,” he was quoted as saying in a media release
Director General -Commerce Ms. Sonali Wijeratne said this is Sri Lanka’s first international victory on countervailing duties especially for a well-known rubber product export.
The US Court of International Trade, on July 11 has ruled that the 0.95 per cent countervailing duty attributed to the guaranteed price scheme on import of off-road OTR tyres from Sri Lanka be removed.
Interestingly, as a result, not only 0.95 per cent duty is out but a larger, 2.18 per cent countervailing duty on the imports of off-the-road (OTR) rubber tyres from Sri Lanka to the US too will be eliminated as a result due to the operation of WTO Agreements once the 0.95 per cent duty is removed, the release said. -- ENDS -
You can share this post!
Content
The Judicial Service Commission (JSC) has interdicted Colombo Fort Magistrate Kosala Senadheera.
Mr. Ali Sabri Rahim, a Member of Parliament (MP) for Puttalam District whom an open warrant had been issued, attended a public ceremony at Al Aksha National School in Kalpitiya today (16) as the special guest of honor.
The Supreme Court today refused interim relief in an application filed by President’s Counsel Senaka Walgampaya seeking an Order from the Supreme Court compelling the President to appoint judges to fill the existing vacancies in the Court Of Appeal.
Gazette on new speed limit regulations to be issued within two weeks
Two underworld criminals wanted for multiple crimes, including murder, were brought from Dubai to Sri Lanka, today (12).
Acting Attorney General Parinda Ranasinghe, was appointed as the Attorney General of Sri Lanka a short while ago.
Leave Comments