Vietnamese exporters learn about trade safeguards
Local exporters were introduced to a string of safeguards measures applied in foreign markets and an early warning system that could help them avoid possible risks.
Illustrative Image (Source: VNA)Vietnamese exports have been most confronting anti-dumping investigations abroad , it was revealed at a conference themed “Safeguards measures in the context of integration and the role of Early Warning System” held in Ho Chi Minh City on June 21.
According to the Ministry of Industry and Trade, safeguards measures are being applied widely, especially in the markets of the US, the EU, India and Brazil.
Among them, anti-dumping duty is most used, with 4,757 cases out of 5,448 safeguards measures-related cases worldwide.
By May 2016, Vietnamese exporters faced 12 anti-dumping evasion cases, 20 safeguards cases, 7 anti-subsidy cases and 64 anti-dumping cases.
According to experts in the field, one of the most serious consequences caused by anti-dumping cases is that local exporters have lost considerable benefits they would have received from the signed free trade agreements.
A number of foreign direct investment (FDI) enterprises, after being imposed with anti-dumping measures, have turned to build plants in other countries, contributing to hindering the development of the industrial sector and reducing the country’s foreign exchange reserves.
To deal with the problems, the Vietnam Competition Authority (VCA) under the Ministry of Industry and Trade has built an Early Warning System of Anti-Dumping Cases with the aim to provide Vietnamese businesses with information on anti-dumping cases against Vietnamese products, and assessing the risks at major markets.-VNA
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