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Anti-dumping alert
With Vietnamese businesses often getting caught up in anti-dumping troubles, the Ministry of Industry and Trade has decided to set up an early warning system on anti-dumping.
It plans to create an internet-based system early next month to warn about anti-dumping proceedings against Vietnamese goods so that exporters will have time to respond to punitive action by importing countries.
The system will initially cover proceedings in the US and Europe, Viet Nam's two key export markets, before enlarging the coverage to other markets, according to Bach Van Mung, Director of the ministry's Department of Competition Management.
The status of exports will be indicated in three different colors in the system.
Green will indicate that the export items are normal while yellow will mean the commodities are in danger of being sued for selling at below-market prices.
Red will indicate that a product group faces the highest risk of anti-dumping proceedings.
Recent anti-dumping proceedings have caused huge damage to Viet Nam in terms of profits and jobs.
The country's industry groupings have proved inadequate in dealing with such proceedings while enterprises were taken by surprise by the lawsuits due to the lack of information.
A lawsuit by the European Bicycle Manufacturers Association led to a decision by the European Union to slap anti-dumping tariffs of up to 34.5 per cent on Vietnamese bicycles in 2005.
Thuy Anh
vietnamnews
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