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Are there any safeguard mechanisms to protect domestic producers form surge in imports from ASEAN?

Are there any safeguard mechanisms to protect domestic producers form surge in imports from ASEAN?

Yes, there are safeguard mechanism to protect the domestic producers against any sudden surge in imports due to tariff concessions that would substantially cause or threaten to cause serious injury to the domestic industry has been included in the Trade in Goods Agreement.

A Party shall have the right to initiate a safeguard measure on the imports of a good from the date of entry into force of this Agreement and up to 5 years from the last date of tariff reduction.

As a safeguard measure, a Party can suspend the further reduction of any tariff rate or increase the tariff rate on the good concerned to the applied MFN tariff rate level of 1st January 2010 and maintain this protection for a period of up to four years.

The requirements to start a venture for international Trade – 

First of all, you need to have an IEC i.e., IMPORTER EXPORTER CODE. Any bonafide person/ company starting a venture for International trade require IEC. IEC forms a primary document for recognition by Govt. of India as an Exporter/ Importer.


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