Providing necessary support for Vietnamese businesses to deal with trade remedies from WTO member countries around the world, Trade remedies, trade remedies from WTO member countries, Providing necessary support for Vietnamese businesses to deal with trade remedies, trade remedies from other WTO members

Vietnam: Providing necessary support for Vietnamese businesses to deal with trade remedies from WTO member countries around the world

(Vietnam) To support Vietnamese businesses when dealing with trade remedies from other WTO members, the Party Affairs Committee of the Ministry of Industry and Trade has set out a policy to proactively respond and effectively handle foreign trade remedy investigation cases against Vietnam’s exports.

Trade remedies

According to World Trade Organization – WTO, trade remedies are understood as emergency measures that restrict or suspend import activities for certain goods because the rapid increase of goods poses a serious threat to domestic goods production activities. 

Principles of application of trade remedies:

  • To apply within the necessary, reasonable, and time-limited scope in order to protect, prevent or limit damage to the domestic industry.
  • To be applied only after conducting a transparent and fair investigation, in accordance with the provisions of law and must be based on investigation conclusions.
  • Publicly announce decisions on investigation and application of trade remedies.
  • No tax difference will be collected if the official trade remedy tax rate is higher than the temporary trade remedy tax rate.
  • Refund the tax difference if the official trade remedy tax rate is lower than the temporary trade remedy tax rate.
  • In case the Minister of Industry and Trade decides not to apply an official trade remedy measure, the collected temporary trade remedy tax or temporary trade remedy payment security must be refunded.

Providing support for Vietnamese businesses when dealing with trade remedies from WTO member countries around the world

Along with the development of global trade, trade remedies are also frequently used by countries around the world. Larger exporting economies are more susceptible to trade remedies.

For Vietnamese businesses, being investigated by foreign countries and applying trade remedies will have negative effects. If a business’s export goods are subject to a high level of trade remedy tax, they will lose their competitive advantage, leading to a partial or complete loss of export markets. 

In order to avoid tax imposition, businesses must arrange time and resources to answer the questionnaire of foreign investigation agencies, along with other requirements incurred during the investigation process. This will create an additional financial burden for the business.

As Vietnamese exports are getting more and more affected by trade remedies from other countries, the Vietnamese government has set out many practical supports for the businesses. 

Specifically, the Prime Minister has approved many projects that will help businesses to strengthen their stance against trade remedies investigation by foreign countries. 

Practical aid to Vietnamese businesses against foreign trade remedies

The projects may be listed as the Project on restructuring the industry and trade sector, Project on strengthening state management on combating trade remedies evasion and origin fraud, Project on building and effectively operating an early warning system on defense Commerce. 

On that basis, the Party Affairs Committee of the Ministry of Industry and Trade has set out a policy to proactively respond and effectively handle foreign trade remedy investigation cases against Vietnamese exports through building and effectively operating an early warning system on trade remedies.

Providing necessary support for Vietnamese businesses to deal with trade remedies from WTO member countries around the world
Providing necessary support for Vietnamese businesses to deal with trade remedies from WTO member countries around the world

To implement these guidelines and orientations, the Ministry of Industry and Trade has coordinated with relevant ministries and sectors to implement many activities such as early access to businesses in industries at risk of being investigated and helping businesses understand the principles and procedures of the trade remedies investigation.

In several cases, the Ministry of Industry and Trade coordinated directly with related ministries and branches to provide information at the request of foreign investigation agencies so that the foreign investigation agency could better understand the policies and procedures of Vietnam, avoid drawing unfavorable conclusions for Vietnamese businesses based on unbiased and inaccurate accusations. 

ASL LAW is the top-tier Vietnam law firm for Anti-dumping & countervailing. If you need any advice, please contact us for further information or collaboration.

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