Business

Vietnam promotes measures to manage local sugar market

Minister of Industry and Trade Tran Tuan Anh has asked agencies to implement measures on trade remedies, import and export management and strengthen market management for sugar products.
Vietnam promotes measures to manage local sugar market ảnh 1Vietnam produces 7.3 million tonnes of sugarcane in the 2019-2020 crop that ended in May 2020. (Photo baoquangngai.vn)

Hanoi (VNS/VNA) - Minister of Industry and Trade Tran Tuan Anh has asked agencies toimplement measures on trade remedies, import and export management andstrengthen market management for sugar products.

The minister requested the Trade Remedies Authority to actively monitor thedomestic market and propose use of trade remedies for imported sugar productsin accordance with international commitments.

At the same time, the authority would establish a synchronous and accuratedatabase on sugar import, export and production based on information from therelevant authorities to support businesses in preparing trade defence records.

The Import-Export Department is asked this year to complete proposals on managementmeasures for the import-export activities of sugar products.

Meanwhile, the General Department of Market Surveillance this year must submitto the Government a decree replacing Decree 185/2013/ND-CP on providingpenalties on administrative violations in commercial activities, production of,trading in counterfeit or banned goods and protection of consumer rights, andDecree 124/2015/ND-CP about amending and supplementing a number of articles toDecree 185/2013/ND-CP.

This general department must strengthen management and inspections to preventand strictly handle smuggling and commercial fraud for sugar and sweeteningproducts, according to the minister.

The solutions of the Ministry of Industry and Trade are expected to protectdomestic sugar production, create a fair business environment and bring morefavourable conditions in improving competitiveness of local sugar producers.

Vietnam produced 7.3 million tonnes of sugarcane and had a total output ofabout 769,000 tonnes of sugar in the 2019-2020 sugarcane crop that ended in May2020./.
VNA
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