Finalization of the Draft Subsidy Law and Compensatory Measures for Domestic Industries

August 5, 2021

The 11th meeting of the Legal Working Group of the Private Sector Development Committee (PriSEC) was held in the 2nd Vice Presidency, and the draft law on subsidies and compensatory measures for domestic industries was finalized.

This law aims to eliminate the effects of harmful subsidies on trade, to provide facilities for free and fair trade, to encourage and develop domestic industries, to protect domestic industries against unfair imports and unfair competition, to adopt measures against deception, to maintain and to attract fraud, to retaliate and to attract fraud, trade protection issues, protection of the interests, industrialists and consumers protection, the establishment of principles and rules for the implementation of subsidiary measures have been prepared by the Ministry of Industry and Commerce following Article 6 of the General Agreement on Tariffs & Trade and the Subsidy Agreement and Compensatory Measures.

This law has 8 chapters and 45 articles and has been prepared and arranged by receiving the opinions and suggestions of the private sector and following the international subsidy laws.

At the end of the meeting, representatives of the private sector asked the Ministry of Industry and Commerce and the Legal Group of the Private Sector Development Committee (PriSEC) for a week to share their final views and suggestions on the law.