09:50 | 03/10/2019 Trade
(VEN) - At a recent meeting with the Trade Remedies Authority of Vietnam (TRAV) in Hanoi, Minister of Industry and Trade Tran Tuan Anh said Vietnam must strengthen state management of trade remedies evasion and origin fraud, and build coordination mechanisms with fellow members of its free trade agreements in order to handle trade disputes.
TRAV Director Le Trieu Dung said that in the first seven months of 2019, TRAV conducted anti-dumping investigations related to four cases, appraised profiles of three cases, reviewed one case, and supervised the application of anti-dumping measures to two cases.
The application of trade remedies has contributed to protecting jobs for more than 100,000 people, promoting domestic production, increasing state budget revenues and decreasing massive imports of many products, while helping businesses avoid losses and improve production stability. Industries protected by trade remedies are estimated to contribute about 6.3 percent to the country’s gross domestic product (GDP).
Minister of Industry and Trade Tran Tuan Anh said the economy’s increasing openness resulted in encouraging import and export growth in the first half of 2019. However, international integration has a multifaceted impact on the economy, with matters related to trade remedies affecting all economies.
Localities have limited knowledge of international trade and integration and trade remedies.
Ta Hoang Linh, Director of the European-American Market Department said that in the first half of this year, Vietnam’s exports to Europe and America increased 14.2 percent over the same period last year, despite decreases in sales to several markets. As a developing country, Vietnam is exempt from safeguard measure application, but with its fast export growth, the country would probably be subject to trade remedy application, he said. Therefore, it is necessary to efficiently implement the project on enhancing state management of trade remedies evasion and origin fraud.
TRAV has set targets, including 1) implementation of a master program for using and coping with trade remedies to support the development of some Vietnamese industries in 2018-2020 and until 2025; 2) accomplishing cases of trade remedies under investigation, and investigation of new cases of trade remedies; 3) announcement and review of trade remedies cases; and 4) coordination with industry associations to supervise imports showing signs of damage to domestic production, such as fibers, liquid sugar and welding rods, for timely investigation and application of trade remedies; among others.
From now until the yearend, TRAV will promote the project on enhancing state management of trade remedies evasion and origin fraud.
Huong & Hung