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Experts urged enterprises to increase their understanding and awareness of the WTO's trade defence laws.—Photo congly
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HA NOI (Biz Hub)— Viet Nam should actively apply trade defence mechanisms to protect domestic production in accordance with World Trade Organisation (WTO) regulations to ensure healthy competition.
According to Dinh Thi My Loan, chairwoman of the Advisory Board on International Trade Defence under the Viet Nam Chamber of Commerce and Industry, only a few Vietnamese enterprises were using trade defence mechanisms although the legal framework for them was established ten years ago.
Loan said the application of trade defence mechanisms was becoming common in developing countries with struggling economies. Some of Viet Nam's top five imports had been subjects to lawsuits in others markets, she warned.
China, South Korea, India, Indonesia and the US were among the top ten exporters in the world, but they also have the most anti-dumping and anti-subsidy lawsuits against them, Loan pointed out, saying that Viet Nam imported huge volumes of products from these markets.
According to Le Sy Giang from the Ministry of Industry and Trade's Competition Management Department, the department would provide support to help enterprises handle documents for anti-dumping suits, stressing that careful preparations for arguments were critical.
A representative from the Government Inspectorate said that enterprises needed support from State management agencies such as the General Statistics Office and the General Department of Customs for figures and information to prepare for their suits.
However, accessing information from these agencies remained difficult.
In many countries, governments have clear mechanisms for companies to access information about import volumes, prices and market share changes that can be used to develop defence mechanisms.
Experts urged enterprises to increase their understanding and awareness of the WTO's trade defence laws.
Trade defence mechanisms include anti-dumping, anti-subsidy and safeguarding measures. — VNS