Enterprises should grasp and effectively apply trade remedy measures to develop sustainably and overcome economic integration challenges, trade experts said at a workshop themed “Vietnam in non-border global trade” held on May 15.

Trade remedy lawsuits—anti-dumping, anti-subsidy, and safeguard measures—usually take a long time, at least two years, to solve, and they usually result in serious damage to export businesses’ trademarks and finances, said Pham Chau Giang, an official from the Vietnam Competition Authority under the Ministry of Industry and Trade.

According to Director of the Ho Chi Minh City branch of the Vietnam Chamber of Commerce and Industry Vo Tan Thanh, free trade agreements (FTA) that Vietnam has negotiated and signed with many partners are expected to bring new opportunities along with increasing numbers of trade remedy cases to domestic enterprises.

As a result, Vietnamese export businesses need a comprehensive overview of the signed FTAs and issues related to trade between the country and its partners, said Wong Chian Voen, Consulting Director of Mayer Brown company from Singapore.

She added that businesses should actively prepare necessary strategies and policies to minimise the possibility of trade remedy cases.-VNA