EU Council on December 4 approved new anti-dumping rules to help protect the EU against unfair trade practices. They will enter into force by December 20. This was reported on the website of the EU Council.
This new anti-dumping methodology will identify and redress cases where prices of imported products are artificially lowered due to state intervention.
“Today we are strengthening our anti-dumping toolkit to provide a fair trade environment for EU producers. The new rules will be crucial in ensuring that all our trading partners are selling us their products at undistorted prices, and that fair market competition is respected,” Urve Palo, Estonian minister responsible for trade said.
The new legal framework removes the former distinction between market and non-market economies for calculating dumping while maintaining the same level of protection for producers. The Commission will now need to prove the existence of a "significant market distortion" between a product's sale price and its production cost. On that basis, it will be allowed to set a price for the product by referring for example to the price of the good in a country with a similar level of economic development or to relevant undistorted international costs and prices.
The text adopted on November 15 by the European Parliament and on December 4 by the Council will be signed in Strasbourg on December 13. The publication in the Official Journal of the regulation is expected on December 19. It will enter into force one day later.
As it was reported ealier the European Commission is ready to provide Ukraine with the further macro-financial support under the activation of the reforms.
'As such, the EU will continue to stand by Ukraine and its citizens as the country further progresses with its reforms and economic adjustment', the message said.
Also, the European Commission is ready to assess the relevance of a successor MFA operation and, if judged warranted, to present a proposal for a new MFA operation in early 2018. The European Commission noted that any decision will be approved by the European Parliament and the EU Council in accordance with the normal legislative practice.