To date, Vietnamese goods and products are subject to a total of 200 trade probes, in turn affecting a trade turnover of nearly US$12 billion.
New trade probes against Vietnamese exports during the first nine months of 2020 doubled to 32 from 16 recorded in the same period of last year, according to the Ministry of Industry and Trade (MoIT).
To date, Vietnamese goods and products are subject to a total of 200 trade probes. |
To date, Vietnamese goods and products are subject to a total of 200 trade probes, in turn affecting a trade turnover of nearly US$12 billion.
The MoIT said at a time when the Covid-19 pandemic is causing severe impacts on the global economy, trade tensions among economies have escalated and resulted in excessive use of trade protection measures.
Notably, most of Vietnamese exports that are under trade probes are the country's staples, including metal, fiber, seafood, construction materials, and chemicals, among others.
The MoIT informed 62% of the number of trade probes against Vietnam’s exports are from the US, India, the EU, Turkey, Canada and Australia. Meanwhile, ASEAN countries have also been active in adopting trade protection measures, accounting for 20% of the total.
In this context, the MoIT has been providing support for local enterprises in protecting their lawful rights in international trade.
The MoIT has set up an early warning system to provide information for enterprises with list of goods facing high risk of trade protection measures.
During the investigation process, the MoIT would continue to request foreign authorities to treat Vietnam’s exporters in a fair and transparent manner, which fully comply with WTO regulations.
The MoIT also informed that Vietnam successfully appealed in 65 out of 151 closed cases, or 43% of the total.
Other News
- Vietnam among Asia-Pacific's fastest growing economies: FedEx
- Vietnam’s stock market remains attractive investment channel: Expert
- Cuba appreciates Vietnam’s support in food and fisheries production
- Vietnam, China to step up cooperation strategy for mutual development
- PM orders urgent measures to address volatile gold prices
- Vietnam earns US$1.4 billion from rice exports in Q1
- Russia’s Zarubezhneft Group explores opportunity for offshore wind projects in Vietnam
- Vietnam poised to reap rewards of rebound in global demand: AMRO
- India, Vietnam seek strong development objectives: Ambassador
- Vietnam’s economy set for speedy recovery in latter half of 2024
Trending
-
Culture is national asset: Vietnam PM
-
Vietnam news in brief- April 19
-
Cultural similarities provide basis for Vietnam-Italy cooperation in various fields
-
[Video]Hanoi beauty spots featured in saxophone legend Kenny G's music video
-
Colorful stage shows in Hoan Kiem Lake pedestrian area
-
It happened as it had to happen
-
Hanoi street where dead appliances come back to life
-
Vietnam’s economy urged to rely on internal strengths to weather global uncertainties: ADB
-
Vietnam, Thailand advance realization of “Three Connections” strategy