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EC deadline to cancel faulty GSP certificates by Oct 1
The European Commission (EC) has threatened to withdraw the GSP facility if the Bangladesh authorities fall to cancel the inaccurate GSP certificates by October 1. reports UNB.
The deadline was set by the Commission after the government failed to take measures to cancel the 6,910 GSP certificates which, an EC investigation team found, were not Issued complying with the rules of origin.
Another demand by the Commission to carry out an Investigation by the authorities concerned here into some 8.562 "doubtful" GSP certificates was not also honoured, annoying the EC further.
In a recent letter to the Export Promotion Bureau (EPB), EC Director PB Knudsen informed that the Commission would withdraw the preferential tariff measures if tne conditions are not met by October 1.
Sources in the readymade garment industry felt that the government should act quickly, cancelling the 6.910 certificates immediately and conducting enquiries to verily the authenticity of the other 8,562 certifi-
cates.
When contacted, Commerce and Industries Minister Tofael Ahmed told UNB yesterday that the government is reviewing the situation and he is likely to visit Brussels, the EC headquarters, next month.
The minister indicated that a decision from the government regarding cancellation of the GSP certificates may be delayed until the outcome of his proposed visit.
The top officials of the Commission are now holidaying and they will not be available before the next month for an amicable solution of the nagging problem.
As products from a least developed country (LDC), Bangladesh’s readymade garment enjoys a 12.5 per cent duty exemption under the Generalised System of Preference (GSP) which gives the industry an edge over its competitors.
But the readymade garment exports faced a disruption after the EC investigation team found irregularities in issuing GSP certificates following complaints that the rules of origin clause is being violated.
The main victim was the exports of knitwear which is to comply with a three-stage in the country transformation — from production of yarn to finished product — to enjoy the duty exemption under the GSP.
Exports of knit items fetched a total of 763 million US dollar in 1996-97 fiscal. 605 million dollar or 79 per cent of which came from the European markets.
Bangladesh requested the EC to derogate the rules of origin clause of the GSP. Tofael Ahmed visited Brussels in January last and wrote letters to top EC officials in an effort to resolve the problem.
Responding, the EC said it is ready to derogate the law, but the Inaccurate GSP certificates should be cancelled first and necessary investigation carried out about the doubtful certificates.
In his letter. Knudsen said under the GSP rules, the concerned country should do the tasks and their results communicated to the customs authorities in the European Community within a maximum six months.
To date, no such communication has been made." the EC official said, adding that a second request could be made under the laws.
He quoted the relevant laws that if after the second request the results of the verification are not communicated to the requesting authorities within four months, the requesting au-thorities shall refuse entitlement to the preferential tariff measures.
Sources said if Bangladesh refuses to cancel the 6.910 GSP certificates by October 1, the Customs authorities of the European Union would ask their respective importers to pay the 12.5 per cent duty they enjoyed "illegally."
That would give a severe blow to the readymade garment sector, especially the knitwear exports
If Bangladesh cancels the 6.910 GSP certificates, an estimated 28 million US dollar or Tk 126 crore would have to be given as indirect compensation to the Bangladesh exporters who pay it to their buyers
Cancellation of the other 8.562 GSP certificates will cost another 30 million dollar or Tk 135 crore.