VN gets early warning on dumping
VN gets early warning on dumping
Viet Nam has developed an online early warning system to prevent anti-dumping cases, a conf-erence heard in HCM City on Wednesday.
The system was designed to minimise the damage from anti-dumping cases on aquatic products, rubber, paper, fibre, plastic, garment-textiles, footwear, steel, electronic spare parts, electrical devices and furniture, said Trinh Anh Tuan, Deputy Director of the Viet Nam Competition Authority (VCA) under the Ministry of Industry and Trade.
Countries would reduce or remove tariffs as part of global integration, but they would apply more technical barriers and trade defence measures, said Tuan.
These lawsuits could cause big losses for enterprises, as well as their market share in export markets, he said.
The system would update businesses with information and the legal regulations of their main export markets in order to alert local businesses about the possibility of anti-dumping cases, Tuan said.
Experts highlighted the significance of the system to local businesses amidst their integration into international economy.
It also strengthened the role of authorities in monitoring foreign trade exchanges and promoting collaboration between authorities and associations to support businesses, they said.
Nguyen Huu Truong Hung from the department highlighted the difficulties facing local businesses, saying that anti-dumping lawsuits often had a chain reaction, and the product would be subject to anti-dumping taxes for an extended period of time.
Business representatives also underlined the vulnerability of developing countries, including Viet Nam, saying many countries would apply anti-dumping lawsuits and trade defence measures towards developing countries.
Since 2002, Viet Nam has coped with more than 100 anti-dumping lawsuits.
In the first six months of this year, Viet Nam has faced four cases against prawns, steel, fibre and oil country tubular goods (OCTG) pipes.
