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Vietnam to develop trade defence early warning system

Vietnam plans to develop an early warning system for trade defence by 2025, aiming to promote sustainable exports.
VNA
Vietnam to develop trade defence early warning system ảnh 1Illustrative image (Photo: VNA)

Hanoi (VNA) - Vietnam plans to develop an earlywarning system for trade defence by 2025, aiming to promote sustainable exports.

The goal was approved by Prime Minister Nguyen Xuan Phucunder Decision No. 316/QD-TTg.

Accordingly, by 2025, an information technologyinfrastructure system, analysis software and an e-portal would be completed toeffectively operate the early warning system and to calculate dumping marginsand analyse damages.

The early warning system would provide support toinvestigators and relevant agencies in the investigation and handling of tradedefence cases in domestic and foreign markets, as well as handling disputes atthe World Trade Organisation.

The system would contribute to protecting domestic productionwhile actively avoiding and coping with trade defence lawsuits filed by foreigncountries towards promoting sustainable exports.

The project will upgrade the database of imported productsunder investigation by Vietnam or imposed trade defence measures, productslikely to avoiding trade defence measures, and products which witnessed suddenincreases in imports and could cause damage to domestic production.

This would help to enhance the investigation capacityand the efficiency of applying trade defence instruments.

Within the project’s framework, training would be provided to1,000 employees working in the fields related to trade defence to improve thecapacity of providing warnings and support to businesses.

To efficiently operate the early warning system and minimisenegative impacts from the international integration process, Vietnam wouldinvest in the IT infrastructure system and complete the database of tradefigures with major partners.

International cooperation would be boosted towards protectinglegitimate rights of Vietnamese firms in import and export activities andclosely watching compliance with international commitments of bilateral andmulti-lateral trade agreements of domestic firms.

According to statistics by the Vietnam Chamber of Commerceand Industry’s WTO Centre, there were 156 trade defence investigation casesinitiated by 19 countries and territories on Vietnam’s export products as ofthe end of 2019. In comparison, Vietnam initiated 16 cases on importedproducts./.
VNA
#early warning system #trade defence #Decision No. 316/QD-TTg #e-portal #analysis software #information technology infrastructure system #Vietnam #Vietnamplus #Vietnam News #Vietnam News Agency
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