Vietnam regrets US denial of market economy status

The Ministry of Industry and Trade has expressed its regret that the US Department of Commerce on August 2 issued a determination according to which although many positive changes have been recorded in Vietnam's economy in recent years, Vietnam continues to be classified as a non-market economy.

This means that enterprises exporting Vietnamese goods to the US market will continue to be treated differently in anti-dumping and countervailing investigations of the US, the actual production costs of Vietnamese enterprises will continue not to be recognised, instead, the "surrogate value" of a third country will be used to calculate dumping/subsidy margin in such cases.

In the coming time, the ministry will continue to study and analyse the arguments in the department’s report assessing the Vietnamese economy so as to continue the supplementation and completion of the briefs and relevant dossiers to submit to the department to request another review to recognise the market economy status of Vietnam.

In addition, the ministry will always support and accompany Vietnamese enterprises exporting to the US market in trade remedy investigations to ensure the highest possible benefits for the Vietnamese business community, it added./.