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Vietnam Business » Vietnam Business News » ECs anti-dumping duty on Vietnams bikes unfair

ECs anti-dumping duty on Vietnams bikes unfair

Nguyen Tat Thanh, deputy director of the Multilateral Economics Department under the Foreign Ministry, made the statement while answering a Vietnam News Agency reporters query on how relevant Vietnamese agencies respond to the fact that in one month, the EC will make its decision on whether it conducts a comprehensive review.

The ECs imposition of anti-dumping duty on bicycles imported from Vietnam is an unfair and biased decision that runs counter to the growing bilateral economic and trade ties between Vietnam and the EU.

EC levied anti-dumping duty of 15.8 percent-34 percent against imported bikes made in Vietnam was based on according to its decision issued in July, 2005.

On March 19, the EC said that the above-said decision will expire on July 15, 2010. However, the EC may review this duty at the request of the European Bicycle Manufacturers Association (EBMA) which seeks the extension of the anti-dumping duty on bikes imported from Vietnam.

The ECs anti-dumping duty on imported Vietnam bicycles over the last five years has reduced Vietnamese-made bike exports to the EU, driving many businesses into bankruptcy or forcing them to change their business, he added.

The total number of employees in the bike industry fell by more than 400 percent, seriously affecting the country when it is trying to minimise the impact of the global financial-economic crisis, Mr Thanh further said.

Vietnamese representatives to the EU will continue to request the EC and the EBMA not to conduct the review and to end the imposition of anti-dumping duty for the benefit of both sides, as well as for the sake of Vietnamese employees and entrepreneurs and the EUs consumers and businesses, he said.

Vietnam Business And Financial News Network. Source [english.vovnews.vn]

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