21 March 2014

International Trade Amicus: January 2014

This first issue of International Trade Amicus in year 2014 brings you a detailed article on recently signed Trade Facilitation Agreement (TFA). According to the article though the agreement would apparently lend credibility to the World Trade Organisation and would reduce the cost of imports and exports by around 10%, yet developing countries would have to find resources to meet their obligations on infrastructure, publish data etc. Tables on Trade Remedy Measures cover list of products and the measures initiated/recommended/imposed by and against India. In WTO, European Union (EU) was at the centre of many disputes as Argentina and Russia sought consultations with the EU in different matters, while EU itself filed dispute against Brazil on certain allegedly discriminatory tax measures of the latter. Further a compliance panel has also been established to see whether the EU has complied with the directions of the DSB in case pertaining to certain measures by the EU against Chinese steel fasteners. China has agreed to make a revised offer to join Government Procurement Agreement (GPA). All these developments are captured in this issue of International Trade Amicius.

Under Ratio decidendi, this issue covers order of Customs Excise Service Tax Appellate Tribunal (CESTAT), New Delhi wherein it has been held that exempted Customs duty would not be includible in landed value for calculating anti-dumping duty in cases where duty equal to difference in specified amount and landed value is imposed.

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