Programme built to better use of trade remedies

Hanoi (VNA) – A report on the building of a general programme for the use of trade remedies in several production industries are being compiled by the Trade Remedies Authority of Vietnam (TRAV).

TRAV said the number of trade remedy investigations launched by Vietnam is very small compared to the probes into Vietnamese goods in other countries. Besides, duties imposed on imported products by Vietnam are also low compared to the rate of tariffs its exports have to face overseas.

That the interests of domestic producers haven’t been fully protected against imports and overseas trade remedy probes aboard could lead to local businesses’ loss of market share and workers’ job loss. 

The agency under the Ministry of Industry and Trade noted that the building of the report is the first step to synchronise analyses and assessments of the trade remedy situation in Vietnam so as to work out solutions for short, medium and long terms.

This report will focus on dealing with policy bottlenecks, facilitating access to resources for trade remedies and ensuring the effective implementation of these measures.

The general programme will benefit producers, exporters, importers, along with ministries and central agencies that are involved in trade remedy cases both at home and abroad. A number of industries will also be among the beneficiaries, including steel and iron, chemicals and chemical products, fertilizers and nitrogen compounds, wood, fisheries, and farm produce, according to TRAV. -VNA