Ministry of industry and trade

Experts warn that businesses need to take preventive measures to avoid losing export markets in the coming time. According to the Department of Trade Defence under the Ministry of Industry and Trade, Vietnam has faced a total of more than 130 trade defence lawsuits including 77 anti-dumping lawsuits, 10 anti-subsidy investigations, 22 self-defence investigations and 17 tax avoidance and evasion investigations. Most of these cases have been lodged by the US, Turkey, India, the EU and Australia. Steel products like cold-rolled steel have been selected for regular investigation, with30 lawsuits having been launched. Five trends of trade defence Many nations in the world have erected barriers such as trade defence instruments to restrict free trade. Ms Tran LanHuong from the Department of Trade Defence points out that five trends of trade defence lawsuits will be applied. Firstly, class action lawsuits have become popular practise, which means that a lawsuit is filed by many nations at … [Read more...] about Preventive measures taken to deal with trade defence

Customs officials check the origin of goods. The State should improve the management efficiency in granting certificate of origin for enterprises. — Photo baophapluat.vn The State management efficiency in granting certificates of origin for enterprises needs to be improved to reduce trade frauds. According to Minister and Chairman of the Government Office Mai Tien Dung, it should continue to create favourable conditions for enterprises in the production and export of goods in accordance with international commitments in free trade agreements. Deputy Minister of Industry and Trade Tran Quoc Khanh said to deal with fraud, the State should promote and improve awareness of enterprise' regulations related to certificates of origin (C/O). Speaking during a meeting at the Viet Nam Chamber of Commerce and Industry (VCCI) last week, Khanh said joining the free trade agreements will help reduce cases of origin fraud. This often occurs for goods exported to markets applying … [Read more...] about Strengthening State management efficiency on C/O needed to avoid trade frauds

  Customs officials check the origin of goods. The State should improve the management efficiency in granting certificate of origin for enterprises. — Photo baophapluat.vn HÀ NỘI — The State management efficiency in granting certificates of origin for enterprises needs to be improved to reduce trade frauds. According to Minister and Chairman of the Government Office Mai Tiến Dũng, it should continue to create favourable conditions for enterprises in the production and export of goods in accordance with international commitments in free trade agreements. Deputy Minister of Industry and Trade Trần Quốc Khánh said to deal with fraud, the State should promote and improve awareness of enterprise' regulations related to certificates of origin (C/O). Speaking during a meeting at the Việt Nam Chamber of Commerce and Industry (VCCI) late last week, Khánh said joining the free trade agreements will help reduce … [Read more...] about Better State management on C/O needed to avoid trade frauds

Containers carrying export goods in the RoK's largest seaport in Busan (Source: Yonhap) Hanoi (VNA) – The Republic of Korea (RoK) is exploring the possibility of forging individual free trade agreements (FTAs) with more ASEAN members in a move to further boost growing economic ties with the region, Yonhap news agency reported, citing a senior trade official of the RoK. The official, who is in charge of free trade policy at the RoK’s Ministry of Trade, Industry and Energy, said the country is reviewing the possibility of FTAs with some of the five countries of Brunei, Cambodia, Laos, Myanmar and Thailand, as part of efforts to promote bilateral economic cooperation. However, he declined to elaborate on specific countries that could be shortlisted for potential free trade deals with the RoK. The RoK has a free trade agreement with the 10-member Association of Southeast Asian Nations, but it has been pushing for separate free trade deals with individual members of the … [Read more...] about RoK promotes economic relations with ASEAN countries through FTAs

The U.S. market currently accounts for some 47% of Vietnam’s apparel revenue, while the ratio for Vietnamese leather shoe exports is 37%. Therefore, the accelerating trade war will have a significant impact on the nation’s key export products, according to a Nguoi Lao Dong newspaper report. The more opportunities, the more risks The Ministry of Industry and Trade has reported to the prime minister the influences of the U.S.-China trade war, noting the danger of a large inflow of Chinese apparel and leather shoe products. However, from another perspective, the trade war could help Vietnamese firms expand their market share and raise exports to the United States, as international manufacturers will have to transfer their production orders from China to Vietnam. According to Diep Thanh Kiet, vice chairman of the Vietnam Leather, Footwear and Handbag Association (LEFASO), the trade war may not affect the local shoe industry for the next one to two months because the United … [Read more...] about Vietnam’s shoe, apparel export orders to surge