Facing the risks of dumping sue

30/01/2007 12:00 - 1129 Views

At the meeting with Southern enterprises on January 29th 2007, three Vietnam counselors in EU, United States, its current and future main exporting markets, all predict rapid growth of export turnover in the coming years, and warn the risks of dumping sue with particular article as well.

"As Vietnam officially becomes WTO member from January 11th, Vietnam Trade Fair in Belgium has paid over 10 visit to provide information about investment policies and business performance in Vietnam for enterprises from advantageous investment areas", said Mr. Dinh Van Hoi, counselor of Vietnam in Belgium and EU. There were 8 meetings which introduced investment policies in Vietnam held in Belgium in 2006.

According to Mr. Hoi, this proved that Vietnam now becomes newly appeal investment destination of foreign investors, especially after its WTO accession. Exports of Vietnam into Belgium also increase along with the economic integration trends. However, he also warned domestic enterprises to be careful because EU may proceed against Vietnam's wooden furniture, footwear, stone.

Statistics from Vietnam Trade Fair in EU showed that in two years, 2004 and 2005, Vietnamese wooden furniture account for 7% of market share. In 2006, its market share reduced by 6.2%, however as WTO practice, this portion is so high that Vietnam are facing the risk of being sue. Mr. Hoi said that to reduce the risk, enterprises should immediately build strategies on price, diversify market, and search information related to dumping case through authorities such as Competition Administration Department.

At the same time, Vietnamese stone is in the high risk list. Counselor Dinh Van Hoi reckoned that in the last 2 years, price of Vietnam stone has reduced by 40% compared with it in 2003. This "horrible" low price can raise a question and EU may proceed against Vietnam stone enterprises.

Lessons from previous leather shoes dumping case last year were emphasized once again by Mr. Hoi. He recommended enterprises to fully cooperate with EU, provide them clear information about business performance. "Vietnamese footwear hasn't been out of danger yet while leather shoes is levied 10% tax of dumping up to 2008", Mr. Hoi further emphasized.

Mr. Nguyen Duy Khien, counselor of Vietnam in U.S. also forecast U.S. investment into Vietnam will accelerate as the result of 3 following reasons: Vietnam market has opened, especially in wine industry which gains much interest of U.S. enterprises; Vietnam market is potential with the new image of a friendly country; and its labor quality is attractive.

Vietnam exports into U.S. market, according to Mr. Khien, will also significantly increase in the coming years when importing demand reach US $ 1,700-1,800 billion per year whereas domestic manufacture meets only 20% demand. "The matter is not demand. It is that Vietnamese enterprises must meet demand of U.S. customers", Mr. Khien said.

Mr. Khien added that a lot of U.S. group offer Vietnam Trade Fair huge processing contract in mechanics and software, etc. but Vietnam Trade Fair regretted to refuse because domestic enterprises were not competent enough to meet their demand. Thus, counselor of Vietnam in U.S. also suggested that domestic enterprises join together and support each other in many product categories to increase their competitiveness and attraction.

Mention to garments and textile control once-per-6-month regime and the risk of lawsuit proceeded by U.S., Mr. Khien also recommended enterprises to well-prepare and provide information to U.S. "Vietnam Trade Fair in U.S. will contribute ideas in public comment round of U.S. Department of Commerce related to garments and textile control regime to protect Vietnam products", Mr. Khien expressed with VnExpress.

Phan Anh

30/01/2007

Source: vietnamnet
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