Early warning system on trade defence to be built

Friday, Aug 14, 2020 16:30

A processing line of frozen shrimp for exports. — Photo dantri.com.vn

The Ministry of Industry and Trade has just issued an action programme to implement an early warning system on trade defence.

The early warning system on trade remedies will help improve the efficiency of international economic integration, and assist investigative agencies in investigating and handling trade defence cases at home and abroad and resolving disputes at the WTO.

It will also proactively prevent and respond to foreign trade defence lawsuits, towards sustainable export and ensure the goal of protecting domestic production.

Along with that, ministries, branches, localities, commodity associations, overseas Vietnamese representative agencies and the business community have strengthened their co-ordination to grasp the situation and regularly update policy adjustments of the country’s major trading partners.

In addition, the Ministry of Industry and Trade will strengthen monitoring of compliance with international regulations in bilateral and multilateral trade agreements of domestic enterprises operating in fields which are at risk of being investigated and applied trade measures; study, review and complete domestic and international policies and laws related to trade remedies.

In particular, the ministry will promote international co-operation in the field of trade defence in the direction of protecting the legitimate interests of Vietnamese enterprises in production, trading and import-export activities. — VNS

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