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Sunday, July 14, 2024

Trade remedy cases against Vietnam’s exports rise rapidly

By N. Tan

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HCMC – Vietnam had recorded 224 cases subject to the trade remedies of other countries in the year to October, according to the Trade Remedies Authority of Vietnam under the Ministry of Industry and Trade.

For the trade remedy cases, 26 were reported from 2005 to 2010 and 52 in 2011-2015, while the 2016-2021 period saw a hike in the number at 109 cases. In November this year alone, there were 16 cases.

The U.S. currently ranks first in applying trade remedies on Vietnam’s exports with 43 cases, followed by ASEAN with 42 cases, India with 29 cases and the EU with 14 cases.

According to the Ministry of Industry and Trade, free trade agreements bring competitive advantages to Vietnam’s export products, but on the other hand, these agreements have potential risks on trade barriers, highlighted by the trade remedy instruments such as anti-dumping, anti-subsidy, tax invasion and self-defense.

The Ministry of Industry and Trade has proactively coordinated with other relevant ministries and departments to handle many trade remedy cases to ease the exportation of Vietnamese enterprises during the past time.

Thanks to the efforts of the relevant parties, the import tariffs imposed on Vietnamese products such as shrimp, pangasius, steel products and honey were then removed or cut, contributing to maintaining Vietnam’s export growth.

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