Anti-dumping law reviewed

RIGA (BNS) - The Latvian Parliament sent a draft anti-dumping law for review to committees last week. The law is aimed to prevent sales at below-cost prices in Latvia.

Building on the information provided by the Economics Ministry, the government may also decide to take temporary measures if it is established that imports at dumping prices cause damage to local producers.The temporary measures, such as price adjustments or anti-dumping charges on the border, may be imposed for a period of six or nine months.

The anti-dumping law is required to enable Latvia to protect its internal market in compliance with the international legislation.

The internal market protection laws has already been adopted in Latvia but according to Economics Ministry an anti-subsidy law is also required to provide adequate protection to the domestic market.

The anti-dumping payments may be less than the difference between the dumping price and the actual value of the product, provided that a smaller payment is sufficient to prevent damages to domestic producers.

No temporary measures or anti-dumping charges will be applied if the exporter promises to revise the prices or stop exports to Latvia at dumping prices, the draft law says.