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Vietnam Business News

Vietnam Business » Vietnam Business News » Vietnam prepares for anti-dumping

Vietnam prepares for anti-dumping

Bach Van Mung, director general of the Competition Administration Department under the ministry, told a meeting in HCM City to collect suggestions for the system that the website for warning is now under test run.

The Ministry of Industry and Trade will put into operation the first phase of a scheme to set up an early warning system on anti-dumping proceedings against Vietnamese exports in September.

Bach Van Mung, director general of the Competition Administration Department under the ministry, told a meeting in HCM City to collect suggestions for the system that the website for warning is now under test run. The website is providing warnings about potential risks of anti-dumping measures imposed on Vietnamese products, including textile and garment, footwear, seafood, furniture and electrics bound for the US and EU.

The scheme is implemented in three phases. The second phase, in which warnings on risks of anti-dumping against products of ten industries exported to five markets are given, is expected to be completed in early 2011.

The number of industries and markets involved will be expanded to 20 and 10 respectively in the last phase. Mung said the early warning system would be helpful for Vietnamese exporters to take caution when shipping items facing high risks of anti-dumping imposition. "They will actively adjust the amount as well as prices of products exported to the two markets if warned early," Mung said. Vietnamese exporters can also look for another alternative market or prepare to meet book-keeping requirements and respond to a lawsuit, he added.

With this system, the ministry hopes it can help reduce the number of potential anti-dumping investigations against Vietnamese products. Since 1994, Vietnam, an export-dependent country, has faced 34 anti-dumping lawsuits.

Business associations have advised the administration to be cautious and refer to the associations information and ideas before giving the highest level of warning. Diep Thanh Kiet, vice chair of the Vietnam Leather and Footwear Association (Lefaso), said the system is being built based partly on the proportion and prices of Vietnamese goods shipped to importing countries, so it may result in incorrect alert and cause enterprises to miss chances to boost their export.

Some other businesses showed their worries about the possibility of foreign producers exploiting the website to file lawsuits against Vietnamese export.

Vietnam Business And Financial News Network. Source [intellasia.net]

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