Firms urged to enhance trade defence plans

16:40 | 23/04/2015 Trade

Vietnamese firms have been urged to enhance their knowledge of trade defence and apply trade defence instruments to protect domestic production.

Firms urged to enhance trade defence plans

This is increasingly important amidst the deeper economic integration that will follow after many free trade agreements (FTAs) are signed.

The Ha Noi Department of Industry and Trade, along with the Viet Nam Competition Authority and the Viet Nam Chamber of Commerce and Industry on Tuesday held a training class for firms about the impact of FTAs on trade defence instruments.

Experts pointed out that technical barriers were non-tariff measures that had been erected to protect domestic production. However, the technical barriers could not impede trade and must be compliant with established commitments.

When the impending FTAs took effect, foreign products would flow strongly into Viet Nam and technical barriers might be an effective measure to deal with this in the short term, experts said.

The use of trade defence instruments, including anti-dumping, anti-subsidy and safeguards, had grown popular in ASEAN countries during the last four years.

Experts said firms could file lawsuits if they found signs of dumping or subsidies, which could damage the imported countries' production, adding that it was important that firms collaborate with each other.

During international integration, experts said lawsuits related to trade defence against Viet Nam's export products were growing, but domestic firms had not paid enough attention to trade defence instruments to protect their rights.

Statistics of the Viet Nam Competition Authority showed that Viet Nam had faced about 80 lawsuits under the World Trade Organisation's trade defence provisions between 1994 and October last year.

                                                                                                                                                                                  Source VNS