Turkey has begun the process of imposing antidumping duty on synthetic yarn exports to Bangladesh. The Turkish government has taken this initiative because of the sudden increase in exports from Bangladesh. The country has started an investigation since December 29.
Exporters of Bangladesh say that Chinese exporters are part of the amount of synthetic yarn exported in Turkey. Turkey imposed antidumping duty on China, Indonesia and India in January 2009. Then the Chinese started exporting yarn through different countries. In the same context, Turkey has already imposed the same tariff on Malaysian, Pakistan, Thailand and Vietnam.
Businessmen of the country say that the latest Chinese people started exporting to Turkey using Bangladesh and Nepal. Turkey is now launching an investigation against Bangladesh and Nepal. Their claim, if the tax on Bangladesh is imposed, the original exporters of the country will also be affected. Five to six companies of the country are exporting synthetic yarn.
If the country exported goods at a lower rate than its domestic market or at a lower cost of production, the importing country could impose antidumping duty on the basis of investigation. After the imposition of duty, imports of imports from other countries suddenly imports imports imports from the importing country. In this case it is called 'Sarakamavension'. Turkey's Ministry of Finance has already reviewed the issue of export from Bangladesh and Nepal.
The Turkish Tariff Commission (BTC) has given a presentation on Turkey's assessment of this subject. It says that 1,550 metric tons synthetic yarn is exported from Turkey to Turkey in 2015. In 2016, it increased to 86 percent, total synthetic yarn exports stood at 2,020 tonnes. In the first 10 months of 2017, the yarn exports to Turkey stood at 3 thousand tons. On the other hand, the export value of cheaper to synthetic yarn from 2013 to 2016 decreased to $ 2.45 from $ 2.64.
When asked about this, Syed Nurul Islam, chairman and chief executive officer of the Group of Great Synthetic Yarn Production and Exporters of Chittagong, said that the Chinese have come to Bangladesh after the use of different countries. Now if Turkey imposes taxes on Bangladesh, the mills of the country will also be affected. He said, "It is going to Turkey using a fake certificate by bringing yarn from China. We have already said this. '
Meanwhile, the Bangladesh Ambassador met with the concerned authorities after discussing details of Turkey in connection with the investigation, said Tariff Commission.
Workshop in the meeting of the commission said that Turkey thinks the synthetic yarn exported from Bangladesh and Nepal are not produced in these two countries. The Ambassador of Bangladesh told the commerce secretary about this. He mentioned that if Turkey does not take proper steps to investigate, Turkey can impose a one-sided tax on unilaterally. He also advised to appoint a lawyer in this regard.
Turkey says that within 37 days of issuing instructions, all the producers of Bangladesh will have to fill the questionnaire. The questionnaire must be filled in Turkish and relevant documents should be given in the same language.
Bangladesh exported $ 21 million worth of goods in Turkey every year. In contrast, $ 6.3 billion worth of products are imported. The country is making high taxes on the garments of Bangladesh.
Bangladesh has not yet been able to impose antidumping duty on any imported goods. But in Bangladesh, Bangladesh's hydrogen peroxide has been facing anti-dumping duty in India and Pakistan. India is now investigating the imposition of duty on Bangladeshi fishing net.