Trade remedy cases against Vietnamese exported products increase
The number of trade remedy cases initiated by foreign countries and territories against Vietnamese exported goods is increasing rapidly, according to Lê Triệu Dũng, director of the Trade Remedies Authority of Việt Nam.
The total number of cases was about 20 cases before 2005, but now has increased to 208 cases.
Being investigated by foreign countries and applied trade remedies will have a negative impact on enterprises as well as the domestic manufacturing industry.
Moreover, if exported goods are subject to a high level of trade remedy tax, it will reduce competitive advantage, leading to the loss of the export market.
Việt Nam has signed, implemented and is negotiating 17 FTAs, of which 14 have been put into practice. The Regional Comprehensive Economic Partnership (RCEP) Agreement will be added early next year.
This means for the import of a wide variety of goods it will be more convenient to enter Việt Nam, and import taxes are also gradually being reduced depending on commitments in each FTA.
Dũng said that trade defence tools were considered a "lifesaver" to protect the domestic manufacturing industry against acts of unfair competition of imported goods, such as dumping or receiving governmental subsidies.
In order to avoid damage from trade remedies for export goods, Dũng said that in addition to active work by the management agency, the proactive response of enterprises would be decisive.
In order to help businesses deal with trade remedy cases, Dũng said that the Trade Remedies Authority had always maintained communication channels with trade remedy investigation agencies in many countries, as well as overseas Vietnamese representative agencies, associations and businesses to promptly update cases.
In addition, the authority has supported Vietnamese enterprises to express their views against unfounded arguments, violating WTO regulations of plaintiffs or foreign investigation agencies; as well as provide accurate, complete and timely information on the basis of the investigation agency's requests to the Government.
Currently, the authority is implementing an early warning system for many industries and products at risk of being subject to trade remedy lawsuits in different markets.
To avoid the risks of trade remedy lawsuits, Dũng pointed out that businesses needed to improve their response capacity.
He also emphasised that businesses must understand the rules of the game and strictly comply with WTO regulations. — VNS
Related News
Vietnam has a trade deficit of over US$17 billion with China
15:34 | 24/04/2024 Import-Export
Vietnam-China trade reaches over US$ 27 billion
09:29 | 10/04/2024 Import-Export
Preliminary assessment of Vietnam international merchandise trade performance in the first 2 months of 2024
11:44 | 06/04/2024 Customs Statistics
Preliminary assessment of Vietnam international merchandise trade performance in the second half of January, 2024
11:43 | 06/04/2024 Customs Statistics
Latest News
Enterprises want clearer regulations on seafood production
14:05 | 26/04/2024 Import-Export
Vietnam ranks fifth among aquatic product suppliers for Singapore
13:53 | 26/04/2024 Import-Export
Forum seeks to increase PPP investment effectiveness
13:48 | 25/04/2024 Import-Export
Linking businesses with cooperatives to increase the value chain
09:42 | 25/04/2024 Import-Export
More News
Tra fish export to UAE jumps 67% in Q1
13:46 | 24/04/2024 Import-Export
Pepper prices continue increase trend
13:44 | 24/04/2024 Import-Export
More efforts needed to maintain export growth to China: Insiders
13:55 | 23/04/2024 Import-Export
It is expected that there are higher orders and revenue in the second quarter from European businesses
09:31 | 23/04/2024 Import-Export
Vietnamese rice prices on the hike
15:08 | 22/04/2024 Import-Export
FDI flow into garment and textile sector bounces back
15:06 | 22/04/2024 Import-Export
Investors play a key role in developing the industrial park system
10:38 | 22/04/2024 Headlines
Find ways to a corporation for businesses in industrial parks
10:38 | 22/04/2024 Import-Export
Export turnover of two agricultural product groups grows three-digit
18:10 | 21/04/2024 Import-Export
Your care
Enterprises want clearer regulations on seafood production
14:05 | 26/04/2024 Import-Export
Vietnam ranks fifth among aquatic product suppliers for Singapore
13:53 | 26/04/2024 Import-Export
Forum seeks to increase PPP investment effectiveness
13:48 | 25/04/2024 Import-Export
Linking businesses with cooperatives to increase the value chain
09:42 | 25/04/2024 Import-Export
Vietnam has a trade deficit of over US$17 billion with China
15:34 | 24/04/2024 Import-Export