Trade remedy lawsuits soar as Vietnamese exports rise
Trade remedy lawsuits soar as Vietnamese exports rise
There have been 208 trade remedies related lawsuits faced by Vietnam's exports sector since 2005, four times the number until then.
Goods to be exported are gathered at the Cat Lai Port of HCMC. Photo by VnExpress/Quynh Tran |
Le Trieu Dung, head of the Trade Remedies Authority of Vietnam under the Ministry of Industry and Trade, said as Vietnam's export turnover continues to grow, more investigations and trade remedies measures were inevitable.
Before 2005, there were just 52 trade remedies related lawsuits on Vietnam's exports, but this number has quadrupled to 208 since then, Dung said at a recent conference.
The number of lawsuits has been rising, especially as certain countries importing from Vietnam are also importing materials from areas where trade remedies have been imposed, on steel or aluminum, Dung noted.
As Vietnam's exports continue to grow, competition intensifies in importing markets, prompting hurt domestic businesses to ask their governments to investigate and apply trade sanctions on Vietnamese goods, he explained.
Vietnam has also applied trade sanctions as a way to enable a fair competitive environment and protect customers' rights. The trade ministry has imposed such sanctions in 23 cases, half of them anti-dumping duties, as of November.
In 2001, Vietnam's trade turnover reached $30 billion, and this tripled six years later to $100 billion. In 2011, the figure was $200 billion and eventually increased to $517 billion in 2019. This year, it is expected that the trade turnover may reach $600 billion.
