return icon Vietnamnet.vn

Vietnam prepares to cope with trade remedies by importing countries

The increase in Vietnam’s exports in recent years may prompt import countries to activate trade remedies against Vietnam’s products.

The Ministry of Industry and Trade (MOIT) is collecting opinions from other ministries and branches on a plan to strengthen coordination between agencies and organizations in handling trade remedy cases.

 

 

{keywords}

 

From a country which always saw a trade deficit, Vietnam has become a country regularly witnessing trade surpluses since 2012, valued at tens of billions of dollars a year. Some countries have taken legal action against imports from Vietnam.

According to MOIT, as of August 2020, Vietnam’s products had faced 189 investigations as trade remedies raised by foreign countries, including 107 anti-dumping cases, 21 anti-subsidy cases, 38 safeguard cases and 23 cases of anti-avoidance of trade remedy duties.

Since 2018, the number of trade remedy investigation matters raised against Vietnam’s exports has reached 65, which accounts for one third of total matters so far.

Some markets often investigate and apply anti-dumping measures against Vietnam’s exports more often than others. These are India (19 cases), the United States (19 cases), Australia (11) and Canada (9). These markets all have large capacity, which are important for Vietnam's exports.

The frequent investigations and trade defense measures have a big impact on Vietnam’s export and its export companies. It takes time and money to follow lawsuits.

One case can last at least 12 months. The fees to hire lawyers are high for Vietnam’s businesses.

According to MOIT, in anti-dumping and anti-subsidy lawsuits, where there are investigations about market issues, if the government doesn’t answer questions as requested by foreign investigation agencies, this would lead to a high risk that the foreign investigation agencies would use information disadvantageous for Vietnam and impose high anti-dumping or anti-subsidy duties on the products under investigation.

If this happens, Vietnam’s products won’t be able to access the target markets because of high taxes.

In order to answer the questions designed specifically for the government, there should be detailed information related to many different national policies, including land, tax, credit and price.

So, in order to provide information to foreign investigation agencies, management agencies need to cooperate well and have prompt actions. If strictly following the current administration procedures, in many cases, it will be difficult to satisfy the requirements in quality and time raised by the investigators.

Therefore, MOIT believes that it is necessary to build a plan to help deal with the cases related to trade remedies raised by foreign countries against Vietnam’s goods. 

Hai Dang

Local traders need business plans to develop e-commerce activities

Local traders need business plans to develop e-commerce activities

Businesses need to develop specific business plans to succeed in e-commerce activities that are seeing strong development in Vietnam, according to experts.

Vietnam’s e-Commerce revenue to exceed 15 billion USD this year: Association

Vietnam’s e-Commerce revenue to exceed 15 billion USD this year: Association

Vietnam’s e-Commerce growth reached 32 percent last year and averaged about 30 percent annually since 2016, according to a report by the Vietnam e-Commerce Association (VECOM).

MORE NEWS

Greece supports Vietnam in promoting comprehensive partnership with EU

Greek President Katerina Sakellaropoulou affirmed her nation’s readiness to back Vietnam in enhancing its partnership and comprehensive cooperation with the EU, and further utilizing the EVFTA in order to boost trade ties between the two nations.

Kovalevskaya Award 2021 presented to two university professors

Two Vietnamese university professors were honoured with the Kovalevskaya Award 2021 for their outstanding achievements in applied sciences at a May 16 ceremony with Vice President Vo Thi Anh Xuan in attendance.

Remarks by PM Pham Minh Chinh at CSIS in Washington D.C

Prime Ministe Pham Minh Chinh has delivered a speech at the Centre for Strategic and International Studies (CSIS) in Washington D.C during his ongoing working trip to US.

VIETNAM BUSINESS NEWS MAY 16

Big customers to buy electricity directly from generators

Market cap of 10 State-owned firms expected at US$5 billion each by 2025

The Government has set a target that at least 25 State-owned enterprises will have a market capitalization of over US$1 billion each by 2025, including a minimum of ten firms with a market cap of over US$5 billion each.

VIETNAM NEWS HEADLINES MAY 16

European Film Festival in Vietnam to take place in four localities

31ST SEA GAMES: UPDATES MAY 16

Five golds for Vietnam in SEA Games 31’s athletics

Microplastic pollution found in Da Nang air

Microplastic pollution in the air in both inner and suburban areas of the central city of Da Nang has become serious. Microplastics can go directly into the lungs during daily activities.

State Securities Commission prioritises stabilising solutions for stock market

The State Securities Commission (SSC) is closely monitoring the developments of the economic - political situation, assessing the influence on Viet...

Local aviation market sees strong recovery

The aviation market in Vietnam is vibrant and recovering with the number of international visitors increasing five-fold, according to experts.

Vietnamese PM receives leaders of US companies in New York

Prime Minister Pham Minh Chinh received executives of Warburg Pincus and Glenfarne Group in New York on May 15, part of his working visit to the US and the UN.

Digital transformation: action and breakthrough results

During the time supply chains were disrupted because of the Covid-19 pandemic, Vietnam's wood and furniture industry still maintained its market share and even surpassed rivals to become the largest wood exporter to the US.

Keeping CPI below 4 pct this year a challenge for VN: Economist

It will be a challenge to keep Consumer Price Index (CPI) growth under 4 percent this year, according to an economist.

Vietnam currently tops SEA Games 31 medal tally

Vietnam is standing atop the SEA Games 31 medal tally with 68 golds, leaving second-placed Thailand far behind.

Five bodybuilding gold medals for Vietnam at SEA Games 31

Vietnam reaped a total of five gold medals among the 10 bodybuilding categories at the ongoing 31st Southeast Asian Games (SEA Games 31) after competitions of this sport wrapped up on May 15.
back_to_top