Việt Nam’s exporters faced a significant increase in the number of trade defence investigation cases this year, on the back of rising protectionism worldwide, according to the Ministry of Industry and Trade.
To date, Vietnamese exported goods have been involved in 239 trade remedies investigations. Typically, products such as shrimp, tra fish, honey and aluminium have always coped with investigations, investigation warnings, lawsuits, and imposition of anti-subsidy taxes.
Data from the authority showed that the number of trade remedy cases against Vietnamese export products has increased rapidly in recent years. As of the end of June, Vietnam had faced 231 trade defence lawsuits, including 128 anti-dumping investigations.
Viet Nam is facing an increasing risk of trade defence lawsuits as exports expand after the country''s active international integration and participation in free trade agreements (FTAs).
Local exporters have been urged to prepare for any trade-related lawsuits and disputes arising from the escalating US-China trade war amid concerns that the two major powers will not reach an agreement this month.
With trade protectionism increasing, VN firms should prepare for trade-related lawsuits and disputes but also capitalise on opportunities from the ongoing US-China trade war.
Improving material supplies and proof of product origin were ways to limit the impact of trade lawsuits amid the growing US – China trade war, according to insiders.
As the number of trade remedy cases and their complexities are increasing, exporters should build up knowledge about trade defence tools and work together with authorities to overcome trade barriers, a seminar heard in HCM City on Thursday.
While remedial measures are necessary following
strong liberalisation of trade, the protection of domestic steel
producers'' interests while applying these measures is a problem,
industry insiders have said.
Vietnamese exporters are usually passive in pursuing trade-related
lawsuits, while during difficult economic times, other countries started
actively using trade defence instruments to protect their domestic
production.