Deputy Minister of Industry and Trade Le Danh Vinh has warned Vietnamese businesses of losing ground in their home market, saying that measures need to be introduced to prevent unhealthy competition from imported goods.
At a seminar on using trade protectionism to ensure domestic production against imported goods in Hanoi on July 28, Deputy Minister Vinh said that Vietnamese businesses face not only anti-dumping tariffs and anti-subsidy lawsuits but also dumped and subsidised goods that are flooding into the domestic market.
According to lawyer Tran Huu Huynh, Head of the Vietnam Chamber of Commerce and Industry’s (VCCI)’s Legal Department, Vietnamese associations and businesses lack an understanding of measures that the World Trade Organisation (WTO) allows its members to use to protect domestic production from a flood of foreign goods.
Up to 66 percent of the surveyed businesses and associations do not understand the WTO agreement and half of them do not understand Vietnam ’s commitments to the world’s biggest trade body relating to their own sector, said the VCCI.
The Deputy Head of the Competition Management Department, Vu Ba Phu, said that so far Vietnam has filed only one lawsuit against imported floating glass. The volume and value of imported floating glass have sharply dropped following a decision by the Ministry of Industry and Trade after its investigation, he said.
Vietnam ’s trade deficit has increased over recent years, said Phu, suggesting that businesses ask the relevant agencies to conduct investigations whenever there are dumped or subsidised imported goods in the country./.
At a seminar on using trade protectionism to ensure domestic production against imported goods in Hanoi on July 28, Deputy Minister Vinh said that Vietnamese businesses face not only anti-dumping tariffs and anti-subsidy lawsuits but also dumped and subsidised goods that are flooding into the domestic market.
According to lawyer Tran Huu Huynh, Head of the Vietnam Chamber of Commerce and Industry’s (VCCI)’s Legal Department, Vietnamese associations and businesses lack an understanding of measures that the World Trade Organisation (WTO) allows its members to use to protect domestic production from a flood of foreign goods.
Up to 66 percent of the surveyed businesses and associations do not understand the WTO agreement and half of them do not understand Vietnam ’s commitments to the world’s biggest trade body relating to their own sector, said the VCCI.
The Deputy Head of the Competition Management Department, Vu Ba Phu, said that so far Vietnam has filed only one lawsuit against imported floating glass. The volume and value of imported floating glass have sharply dropped following a decision by the Ministry of Industry and Trade after its investigation, he said.
Vietnam ’s trade deficit has increased over recent years, said Phu, suggesting that businesses ask the relevant agencies to conduct investigations whenever there are dumped or subsidised imported goods in the country./.
