With the first hearing, the Parliament of Georgia has already voted for the bill 'On Anti-Dumping Trade Measures.' Following the project, the Competition Agency will study the issue. The Agency, based on the study of the local industry, will review the dumping imports.
Following the bill on 'On Anti-Dumping Trade Measures,' the Competition Agency will define whether the imported product is on sale with dumping prices.
Head of the Competition Agency, Irakli Lekvinadze says, via the process transparency, the Agency will respond to the challenge of the dumping problem for local industries.
The Revenue Service of Georgia will administer the tariff imposed as a result of anti-dumping measures.
"We begin to study the problem if more than 50% of local industry players put this issue on the agenda. However, their total market share should be at least 25%. Afterward, we will have certain deadlines to study the problem raised in the statement and determine whether we are dealing with dumping. We will prepare a report that we will send to the government to respond. I can tell you that the anti-dumping law relies on the best European practice. On the one hand, local enterprises will be safe from dumping, and on the other hand, and the use of the law will neutralize the fears of importers," Irakli Lekvinadze, Head of the Competition Agency, stated.
Notably, dumping is the sale of products on a foreign market at a price that is much lower than domestic, sometimes even lower than the product self-cost. In business, dumping usually aims to drive competitors out of the market.
Bela Gelashvili
News Author