The establishment of a department specialising in trade defense was necessary in the context of global integration, Minister of Industry and Trade says.
Tran Tuan Anh, the Minister of Industry and Trade (MoIT), has said that the ministry planned to establish a trade defense department to safeguard the interests of businesses in the context of global integration, the Vietnam News Agency (VNA) reported.
According to the VNA, the department would help the minister implement State management functions on trade defense, contributing to launching legal regulations on the issue effectively.
The department would undertake responsibilities in cooperating with relevant agencies to implement regulations on anti-dumping, anti-subsidies and to apply defense measures for imported goods into Vietnam.
The department would also organize investigations on imports from countries into Vietnam to propose the application of anti-dumping measures under the current laws and regulations.
In addition, the department would chair and cooperate with associations and businesses in response to lawsuits on anti-dumping, anti-subsidies and defense imposed by foreign partners on Vietnamese exports. It would resolve disputes at the WTO relating to the above-mentioned issues.
Minister Tran Tuan Anh was quoted by VNA as saying that the establishment of a department specializing in trade defense was necessary in the context of global integration to respond to unexpected changes in international and regional trade.
Most counties, such as the US, the European Union nations, the Republic of Korea and Japan, have a special agency dealing with such issues under the management of the ministry of trade, the ministry of economics, or the ministry of industry and trade.
He said the ministry has been strategizing with the Law on Foreign Trade Management to form solutions in order to implement integration strategies. All issues related to anti-dumping, anti-subsidies and defense would be listed in a chapter. The draft law is expected to be submitted to the National Assembly for approval in the upcoming session.
By the end of October 2016, the total number of investigations on anti-dumping, anti-subsidies and defense on Vietnamese exported products was 104, of which the number of anti-dumping investigations was 66, accounting for 63 percent of the total.
Vietnam conducted nine investigations on anti-dumping and anti-subsidies on imported goods into the country based on the requirements of local producers. In particular, the number of investigations on trade defense has been on the rise. From 2015-2016, the ministry had carried out six investigations on the issue.
Vietnam’s businesses and sectors are facing fierce competition from imported goods, including unhealthy competition, as the country has implemented tariff reduction and removal according to trade integration commitments.
One of the tools to ensure legal rights and benefits to domestic producers against the pressure of imported goods was anti-dumping, anti-subsidies and defense, the minister added.
Vietnam Economic Times