return icon Vietnamnet.vn

MoIT helps enterprises deal with increasing trade remedy cases

Vietnam’s export goods face more trade remedies in the process of deep economic integration, so the Ministry of Industry and Trade has developed solutions for the situation.

 

 

Processing tra fish at a seafood company in Dong Thap Province. Many local seafood exporters have enjoyed zero anti-dumping tariffs when exporting to the US market. 

 

The ministry reported as of September this year, about 200 cases of trade remedies were implemented on Viet Nam’s exports. Of which, there were 32 cases in the first nine months of this year, doubling the number in the whole of 2019.

These cases were mainly for metals (aluminium, flat steel bars and steel pipes), fibres, seafood (shrimp and fish), plywood, construction materials (bricks, glass and sanitary ware), and chemical products.

Foreign countries and territories that have regularly implemented trade remedy investigations on Viet Nam's exports include the US, India, the EU, Turkey, Canada and Australia. These countries make up 62 per cent of the total 200 trade remedy cases on Viet Nam's exports. In recent years, ASEAN countries have also started investigations to apply trade remedies on Vietnamese products, with 38 cases, accounting for about 20 per cent.

Therefore, the ministry has promoted support for manufacturing industries and export enterprises to respond to the trade remedy lawsuits. These ensure their legitimate rights and interests in international trade activities and contribute to reaching the export growth target.

The ministry has regularly updated the list of goods that are at risk of trade remedies and origin fraud measures. It has helped state management agencies strengthen supervision and implement suitable measures.

It has recommended local businesses actively develop plans for production and business, and handling trade remedy lawsuits, while it has provided up-to-date information about the cases.

When a trade remedy case for a Vietnamese product is initiated, the ministry has offered support relating to the case for businesses, especially legal issues.

At the same time, it has coordinated with relevant ministries, sectors and provincial people's committees on investigation questionnaires as measures to support local enterprises in the lawsuits.

With these efforts, according to the ministry, Viet Nam has witnessed success in many trade remedy lawsuits, meaning tax was not imposed or trade defence measures were halted in 65 cases.

Many products, such as seafood, steel, and wood, face trade defence measures but many businesses enjoy zero or very low tax rates to help them maintain and grow exports, especially to major markets such as the US, EU and Canada.

The ministry has recommended that to minimise negative impacts of trade remedies, the manufacturing and export industries and Vietnamese enterprises need to diversify their markets and improve competition in terms of quality. The businesses also need to consider trade remedies part of their production and business strategy, especially export activities.

The enterprises must have basic knowledge of regulations on trade remedies and monitor the Ministry of Industry and Trade’s information about this issue when exporting their products to other countries. They must strictly comply with the rules of origin certification. — VNS

Vietnamese goods face tough road to foreign markets due to trade remedies

Vietnamese goods face tough road to foreign markets due to trade remedies

With an array of free trade agreements (FTAs) inked and coming into force, countries around the world have also increased technical barriers to protect their domestic industries,

MORE NEWS

Da Nang City calls for investment

The Government will keep following reform policies in administrative procedure, legal environment, more transparency and publicity in creating trusts and confidence among businesses investing in VN and Danang with the win-win target.

Vietnam up 39 notches in quality of life index rankings globally

Vietnam has made great strides in improving its living standard as it jumped 39 notches in the global quality of life index rankings in 2021, revealed CEOWORLD, the world’s leading business and trade magazine.

Australian Foreign Minister begins Vietnam visit

Foreign Minister Penny Wong began a two-day visit to Vietnam on June 26 in an effort to further promote the dynamic partnership between the two countries.

Miss Grand International 2023 to be held in Vietnam

Vietnam will be the host country of Miss Grand International 2023.

Top legislator meets Deputy Speaker of Hungarian parliament

National Assembly Chairman Vuong Dinh Hue visited Albertirsa city on June 26 as part of his official visit to Hungary, where he was welcomed by Deputy Speaker of the Hungarian parliament István Jakab and city officials.

VIETNAM BUSINESS NEWS JUNE 26

Agricultural sector ensures food security, exports

Vietnamese become famous for gold-wearing ‘hobby’

The hobby of wearing gold all over the body has attracted the attention of the public, even foreign news sites.

Hue Festival 2022 opens with glamor show

The week-long Hue Festival 2022 was kicked off on June 25 evening by a unique art programme and Ao Dai (Vietnamese traditional gown) show.

Bach Long Glass Bridge - A news tourist attraction in Moc Chau

A glass-bottomed bridge named Bach Long (White Dragon) was recently inaugurated in Moc Chau and it has immediately become a new tourist attraction.

Vietnam among few countries totally re-open int’l tourism market

Vietnam is the only only Southeast Asian country that has reopened international tourism without any COVID-19 restrictions, the World Tourism Organization (UNWTO) said.

Foreign Ministry spokeswoman’s story of being a writer

Assistant to Minister of Foreign Affairs, Spokesperson of the Ministry of Foreign Affairs Le Thi Thu Hang says journalism not only means reporting information, but it also has the function of leading public opinion.

Another S.Korean airline resumes direct service to Khanh Hoa

An Air Seoul flight carrying 187 passengers from the Incheon international airport arrived at the Cam Ranh International Airport in Khanh Hoa Province on June 24.

Interest subsidy vs monetary loosening

Some recent reports have indicated that the monetary policy of the State Bank of Vietnam (SBV) is not in sync with the global trend.

Developers expect smoother LNG policy planning

In Vietnam, about 20 LNG-fired power projects are in the pipeline. Some of these programmes, however, have yet to identify a fuel source.
back_to_top