How can trade remedies be no longer a big barrier for Vietnamese exports?
- 136
- Business
- 16:20 05/04/2022
DNHN - Enterprises must get a fundamental understanding of the rules and regulations governing trade remedies in FTAs between Vietnam and its partners, develop a sophisticated and contemporary management system, and maintain records. The papers are comprehensive and easy to read.
The Ministry of Industry and Trade has issued a list of 11 export product groupings that may face trade remedies; all 11 items are shipped to the United States.
Specifically, the Ministry of Industry and Trade's amended list until November 2021 contains four wood products that may face measures to fight evasion, origin fraud, unlawful transhipment, or defensive measures.
Additionally, fake stone, ceramic tiles, electric bicycles, gas cylinder covers, barrel pins, and solar batteries are available.
According to the Ministry of Industry and Trade, if firms quickly catch up and react pro-actively, trade remedies will no longer be a significant obstacle to Vietnamese exports.
According to Ms Pham Chau Giang, Deputy Director of the Trade Remedies Department (Ministry of Industry and Trade), early warning for companies about dangers is important to the success of cases.
Because, when governments issue inquiry letters in a short period, the obligations for enterprises to furnish information are often rather extensive.
To assist enterprises in being more proactive in their management and response to international trade remedy inquiry cases, the Prime Minister approved Decision No. 316/QD-TTG authorizing the Construction Project to effectively establish and run a trade remedy early warning system.
Currently, the Trade Remedies Department updates and publicly releases the warning list quarterly to help authorities, associations, firms, and other stakeholders stay focused and consistent, and be prepared for the prospect of a probe into foreign trade remedies.
To be proactive, Ms Pham Chau Giang recommended that businesses arm themselves with a working knowledge of the laws and regulations governing trade remedies in FTAs between Vietnam and its partners; plan to hire a lawyer when necessary; and establish an advanced and modern management system, complete with accurate and legible records and books.
If an investigation is launched, it is vital to consider actively engaging in the case by promptly responding to the questionnaire, working with the foreign investigation agency, and avoiding being utilized by the foreign investigation agency.
Utilize accessible facts while assessing and analyzing the case's result.
PV
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