KARACHI: Speakers at a seminar on ‘anti-dumping law, a cost audit perspective’ on Saturday discussed technical aspects of anti-dumping law and how the issue had become important for WTO member countries to prepare themselves accordingly.

The WTO Cell of Trade Development Authority of Pakistan organised the seminar at the TDAP in collaboration with the Institute of Cost and Management Accountants of Pakistan.

The objective of the seminar was to highlight the importance and relevance of cost audit with anti-dumping laws and practices.

The idea of organising the seminar was taken from the link between the World Trade Organisation’s anti-dumping cases and cost audit. In either case of anti-dumping or countervailing duty, cost audit was extremely important for determining damage, the organisers said.

TDAP Secretary Mirza Karim Baig gave the inaugural speech. The speakers said a complainant, when filing a case for dumping or countervailing duty, had to submit solid proof of production cost. “The audited cost is acceptable internationally.”

When the European Union was imposing anti-dumping duty on import of Pakistani bedlinen, they said, local businessmen failed to convince the jury. It was due to lack of authenticated audited cost of their products, which led to imposition of high anti-dumping duty by EU authorities.

Similar is the case with initiation of the process of imposing anti-dumping or countervailing duty on import of products in Pakistan.