PIMVINA Co.,LTD in Mỹ Trung Industrial Park in Nam Định Province, a car parts manufacturing company that exports to South Korea and Japan. In recent years Việt Nam has focussed on increasing exports in the Asia-Pacific, Africa, and Oceania. — VNA/VNS Photo Vũ Sinh

 

Vietnam has faced 268 trade defence investigations, with more than half coming from Asia, Africa and Oceania, according to the Ministry of Industry and Trade.

 

The numbers were released at a conference on increasing Vietnam’s export potential and capacity to respond to defence cases, held by the ministry and the Hà Nội People’s Committee in the capital city on Tuesday.

 

Fourteen out of 25 countries in Asia, Africa and Oceania have initiated 145 trade investigations against Việt Nam’s exports, out of the total of 268 cases, according to Trịnh Anh Tuấn, director of the Trade Remedies Authority under the ministry.

 

The countries that have launched the most investigations are India, Turkey, Indonesia and the Philippines.

 

In ASEAN alone, Malaysia, Indonesia, the Philippines and Thailand have investigated 52 cases involving Vietnamese goods. In Oceania, Australia has investigated 19 cases involving Vietnam.

 

The trade ministry, together with relevant agencies, has participated as a concerned party in anti-subsidy investigations against the Vietnamese Government.

 

“Particularly, in markets like Australia, the Philippines and Indonesia, we have successfully proved that the Government did not provide subsidies to Vietnamese goods, or intervene in the market,” Tuấn said.

 

Vietnam has established economic, trade and investment cooperations with more than 230 countries and territories, signed 17 trade agreements and is negotiating two others, making it one of the most open economies in the world, according to Deputy Minister of Industry and Trade Phan Thị Thắng.

 

 

Deputy Minister of Industry and Trade Phan Thị Thắng speaks at the conference. — Photo bnews.vn

In recent years, Vietnam has particularly focused on strengthening economic cooperation with countries in the Asia-Pacific, Africa and Oceania regions, to boost exports to these markets.

 

The country’s key export products to Asian markets are mobile phones and electronic components, computers, electrical products, agricultural products, construction materials (steel, tiles and cement), wood products, chemicals and textiles.

 

Key exports to Oceania include processed seafood, cashew nuts, steel and wood products, while key exports to Africa include rice, coffee, transport vehicles and parts, as well as electronic products and components.

 

To further promote Vietnam’s and Hanoi’s exports to these markets, the Hanoi Department of Industry and Trade will continue to coordinate with the trade ministry to strengthen the competitiveness of businesses and producers, helping them handle trade investigations when they arise, said the department’s deputy director Nguyễn Thế Hiệp.

 

“We will implement policies to promote production and exports, with a focus on monetary policies as directed by the Government and further reform administrative procedures,” he said.

 

“We will also raise the quality of trade and investment promotion programmes, adapting them to the new circumstances to avoid wasting resources.”

 

He proposed that the trade ministry conduct thorough research and apply appropriate measures to protect the domestic market and businesses from foreign competition.

 

Through its overseas representative offices, the ministry should provide timely reports on changes in the foreign markets’ policies and reactions so that domestic businesses can respond accordingly.

 

The ministry should also keep local authorities informed and guide them in helping local businesses respond to trade defence instruments, he said. — VNS

 

 

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