Tanzania Introduces Legislation to Protect Traders
MINISTRY of Trade and Industries is considering to introduce the Trade Remedies Act of 2021 to strengthen protection of traders that includes resolving unfair trade practices.
The new legislation, if enacted by the parliament will repeal the Anti-Dumping and Countervailing Measures law of 2004.
Minister of Trade and Industries, Prof Kitila Mkumbo told the National Assembly on Saturday the new measure is aimed at protecting local traders and industries. “This will help regulate mass importation of goods and restrict sell of goods at a relative cheap price against that in the country of origin,” Prof. Mkumbo said when tabling his ministry’s budget estimates and expenditure for 2021/22 fiscal year.
The new proposed legislation, according to the minister highlights measures and action against subsidized products which are being imported into the local market to compete with non-subsidized domestic products.
Prof Mkumbo also announced that the government is working with other stakeholders to amend at least 22 other legislations to improve business environment in the country.
By Daily News.
