Vietnam completes anti-dumping probe into corn syrup from China, RoK

Illustrative photo. (Source: nongnghiep.vn)

The Ministry of Industry and Trade (MoIT) has completed an anti-dumping investigation into high-fructose corn syrup (HFCS) imported from China and the Republic of Korea, according to the MoIT’s Trade Remedies Authority of Vietnam (TRAV).

The investigation was launched in June last year following a petition from a number of domestic HFCS producers filed with the ministry in May proposing anti-dumping measures imposed on the HFCS originated from the two countries.

During the probe, the MoIT has collected information and views of point from concerned parties, while carefully evaluating the impacts of the imported HFCS on the local industry and dumping margins of the Chinese and Korean producers in accordance to regulations of the World Trade Organisation (WTO), the Law on Foreign Trade Management and relevant legal documents.

The ministry determined that the HFCS originated from China and the RoK are being dumped in Vietnam and the domestic industry has been suffering significant losses. However, there is no obvious causal relations between the dumping acts by the Chinese and Korean exporters and the damage of the domestic industry.

Basing oneself on Vietnam's legal regulations on trade defence and the WTO's anti-dumping agreement, as well as opinions from relevant parties, including domestic producers, the MoIT decided to terminate the investigation.

The MoIT said it will coordinate with stakeholders to continue keeping a watch on the imports of HFCS into Vietnam, so as to come up with proper measures to protect the legitimate rights of Vietnamese producers and consumers./.