Vietnamese firms updated on trade protection regulations in US
Updated information on legal trends and trade protection in the US as well as recommendations for Vietnamese enterprises were given to businesses at a conference held by the Vietnam Chamber of Commerce and Industry (VCCI) and the Ministry of Industry and Trade in Ha Noi on June 25.
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Nguyen Thi Thu Trang, Director of the VCCI’s Centre for WTO and Integration said global trade has seen signs of complicated trade protection, especially in big markets.
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| Overview of the conference. (Photo: VNA) |
The US is an important market of Vietnam, but it also a market that accounts for 22 percent of total anti-dumping and anti-subsidy lawsuits against Vietnam, noted Trang.
She held that over the years, the situation in the US regarding trade protection has changed significantly, affecting Vietnam’s exports to the market.
Currently, Vietnam is facing 17 anti-dumping lawsuits, mostly related to industrial, garment and metal products, she said, adding that she hopes the conference will help Vietnamese firms update latest information of legal regulations in the US.
Daniel Calhoun, Chief Counsel for Trade Enforcement and Compliance at the US Department of Commerce, said WTO agreements on anti-dumping, anti-subsidy and trade defence are unchanged despite efforts to adjust some regulations related to the agreements.
Trang pointed out that anti-dumping lawsuits normally have a short duration, while technical requirements are complicated and Vietnamese firms are not ready for lawsuits abroad and lack legal support, so early preparation is crucial.
Domestic enterprises should raise their awareness and knowledge of the procedures of lawsuits and their export market, while regularly coordinating with their import partners to keep track of changes in regulations.
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(Source: VNA)
