The Ministry of Trade (MoT) is finalising a draft ordinance to protect Vietnam’s markets against goods dumping.

Under the ordinance, imports will be evaluated in comparison to their sales prices in their countries of origin. Should they retail for less than their real value, causing direct and considerable losses for domestic production, they will attract anti-dumping measures, including anti-dumping and temporary anti-dumping tariffs.

Domestic individuals and organisations will be entitled to enter into legal proceedings against dumped imports if they produce similar products that account for at least 25% of the country's total output. The ordinance states that all decisions related to the application of anti-dumping measures will be made by the MoT.

Economic experts said the issuance of such an ordinance is necessary as many Vietnamese businesses are currently suffering while trying to compete with dumped sugar, motorbikes and cement in the domestic market. Meanwhile, other local businesses are being hit hard by lawsuits on dumping on the international market, with the latest ones faced by tra and basa fish exporters in the US, gas lighters in the EU and footwear exports to Canada.

(Source: VNA)