The increase of imported sugar has left the local sugar industry suffering. (Photo: VNA) Hanoi (VNA) - Vietnam will investigate signs of dumping of sugarimported from Thailand, said the Ministry of Industry and Trade (MoIT).
The ministry on September 21 issued Decision No 2466/QD-BCT on initiating ananti-dumping and anti-subsidy investigation for imported sugar from Thailand onthe basis of the documents requested by the Vietnam Sugar and SugarcaneAssociation (VSSA) and domestic sugar producers.
According to the ministry, implementing Vietnam’s commitments in ASEAN relatedto the application of tariff quotas under the World Trade Organisation (WTO), Vietnamabolished the sugar import tariff quotas for ASEAN countries from January 1,2020.
However, in the first eight months of this year, the amount of sugar importedincreased dramatically, reaching nearly 950,000 tonnes, a rise of more than sixtimes over the same period last year.
The amount of sugar imported from Thailand to Vietnam in the period accountedfor a large proportion, reaching nearly 860,000 tonnes while that of thecorresponding period last year was 145,000 tonnes.
According to representatives of the domestic producers, the increase was themain cause of damage to the local sugar industry, pushing Vietnameseenterprises to lose market share and reducing production output.
The domestic sugar production in the 2019-20 crop was estimated at less than800,000 tonnes, reducing from 1.2 million tonnes in the 2018-19 crop.
In addition, the industry has provided information and evidence that sugarproducts imported from Thailand are dumping into Vietnam and the ThaiGovernment has been maintaining a number of policies supporting sugarcaneactivities of farmers and the industry.
The MoIT will conduct investigations to establish a fair, competitiveenvironment in the context of international economic integration, protect thelegitimate rights and interests of the local industry against theanti-competitive acts.
According to the Law on Foreign Trade Management, the ministry could imposeanti-dumping and anti-subsidy tax with retroactive effect on goods subjected totax for a period of 90 days before applying temporary anti-subsidy andanti-dumping taxes.
The MoIT recommended that organisations and individuals in the process ofsigning contracts for importing, distributing, trading and using goods underinvestigation should pay attention to the possibility of being subject totemporary anti-dumping and countervailing duties as well as retroactiveanti-dumping and countervailing taxes./.
The ministry on September 21 issued Decision No 2466/QD-BCT on initiating ananti-dumping and anti-subsidy investigation for imported sugar from Thailand onthe basis of the documents requested by the Vietnam Sugar and SugarcaneAssociation (VSSA) and domestic sugar producers.
According to the ministry, implementing Vietnam’s commitments in ASEAN relatedto the application of tariff quotas under the World Trade Organisation (WTO), Vietnamabolished the sugar import tariff quotas for ASEAN countries from January 1,2020.
However, in the first eight months of this year, the amount of sugar importedincreased dramatically, reaching nearly 950,000 tonnes, a rise of more than sixtimes over the same period last year.
The amount of sugar imported from Thailand to Vietnam in the period accountedfor a large proportion, reaching nearly 860,000 tonnes while that of thecorresponding period last year was 145,000 tonnes.
According to representatives of the domestic producers, the increase was themain cause of damage to the local sugar industry, pushing Vietnameseenterprises to lose market share and reducing production output.
The domestic sugar production in the 2019-20 crop was estimated at less than800,000 tonnes, reducing from 1.2 million tonnes in the 2018-19 crop.
In addition, the industry has provided information and evidence that sugarproducts imported from Thailand are dumping into Vietnam and the ThaiGovernment has been maintaining a number of policies supporting sugarcaneactivities of farmers and the industry.
The MoIT will conduct investigations to establish a fair, competitiveenvironment in the context of international economic integration, protect thelegitimate rights and interests of the local industry against theanti-competitive acts.
According to the Law on Foreign Trade Management, the ministry could imposeanti-dumping and anti-subsidy tax with retroactive effect on goods subjected totax for a period of 90 days before applying temporary anti-subsidy andanti-dumping taxes.
The MoIT recommended that organisations and individuals in the process ofsigning contracts for importing, distributing, trading and using goods underinvestigation should pay attention to the possibility of being subject totemporary anti-dumping and countervailing duties as well as retroactiveanti-dumping and countervailing taxes./.
VNA
