A WTO member may take a “safeguard” action (i.e., restrict imports of a product temporarily) to protect a specific domestic industry from an increase in import of any product which is causing, or which is threatening to cause, a serious injury to the industry. The WTO has framed the Agreement on Safeguards. For more information on WTO Agreement on Safeguards, visit www.wto.org.
In order to implement WTO rules on safeguard, the Customs Act, 1969 has incorporated adequate provisions under section 18E. Further, the NBR has issued an SRO (SRO no. 163-Law/2010/2286/Cus) delineating detailed rules and procedures for imposition of safeguards duty. Through the same SRO, Bangladesh Tariff Commission has been nominated as the Bangladesh Safeguards Authority.
NBR SRO on Safeguard Duty