Samoa enacts anti-dumping laws

19/10/2011 12:00 - 485 Views

Parliament on Tuesday passed an amendment bill empowering Inland Revenue to stem the practice of imported goods flooding the market to kill local business.

Explaining new amendments to the Customs Tariff Act 1975, Trade minister Fonotoe Pierre Lauofo said the bill will allow Customs to impose a tariff on an imported good that that will bring up its sale price on par with the price it is sold at, at its original source country and, to make it also competitive with the price of the same product produced in Samoa.

“Dumping products is a common practice overseas where importers dump a product into a country – selling it very cheaply – to run local manufacturers of the same product out of business.”

When asked if the new bill will contradict with Samoa’s stated commitments to World Trade Organisation, it will be a part of soon, Fonotoe said;

“Dumping is also illegal under WTO regulations. This bill is not only to protect local manufacturers but to strengthen our trade policies when we become a part of the WTO.”

October 12, 2011

By Tupuola Terry Tavita

Source: savalinews.com