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Category: WTO Sub-category: Anti Dumping
Document type: news
The Chinese Government is going to review anti-dumping measures on sulfamethoxazole (SMZ), an antibiotic imported in huge quantities from India, raising possibility of extending duties that are due to phase out June 2012.
Way back in 2007, cheaper Indian exports of SMZ caused a dent in profits of local Chinese pharmaceutical players and imposed anti dumping duty of 10.1 % to 37.7%. Recently in June 2011, Shouguang Fukang pharmaceutical firm filed an application an adjustment of tariff rates as Indian SMZ producers increased their dumping efforts in China.
In recent months, Indian pharmaceutical companies have asked the Chinese Government to open up the booming domestic healthcare market, which is witness to multi-billion dollar reform and to unwind the registration procedures which have kept Indian players at bay. In March 2011, a 15-member delegation of the Indian Drug Manufacturers Association (IDMA) held talks with officials of China's State Food and Drug Administration (SFDA) to raise concerns over registration rules and other technical details.
China exports over $3 billion worth of pharmaceuticals, largely Active Pharmaceutical Ingredients (APIs) to India each year while India exports around $500 million to the country annually.
Indian government is making endeavours to reduce a fast-growing trade imbalance which rose to a record $20 billion in 2010. Bilateral trade between both countries reached $61.7 billion in 2010, with China becoming India's largest trade partner.
The trade deficit has, widened so far this year, touching a record $14 billion in seven months.
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Anti-dumping - If a company exports a product at a price lower than the price it normally charges on its own home market, it is said to be "dumping" the product. Is this unfair competition? The WTO agreement does not pass judgement. Its focus is on how governments can or cannot react to dumping - it disciplines anti-dumping actions, and it is often called the "Anti-dumping Agreement".
Antibiotics - The word antibiotic comes from the Greek anti meaning 'against' and bios meaning 'life' (a bacterium is a life form).' Antibiotics are also known as antibacterials, and they are drugs used to treat infections caused by bacteria. Bacteria are tiny organisms that can sometimes cause illness to humans and animals. The singular word for bacteria is bacterium
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