The Ministry of Industry and Trade continues to promote the implementation of comprehensive and synchronous trade defense work, which is a premise to help unlock development resources.
Trade defense protects Vietnam's rights and interests in international commitments.
International economic integration has been an inevitable, widespread and increasingly deep trend, reflected in the World Trade Organization (WTO) increasingly expanding the number of members and many bilateral and multilateral Free Trade Agreements (FTAs) being signed. At the same time, international economic integration has brought many benefits to countries, including Vietnam.
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| Trade defense work will continue to receive attention and be promoted. Photo: VNA |
Regarding trade, according to the Department of Trade Defense, Ministry of Industry and Trade, Vietnam's export goods have more opportunities to expand their markets, while imports are diversified, avoiding dependence on traditional sources of supply. Thanks to tariff reductions and the removal of trade barriers, Vietnam can participate more deeply in the global production and supply chain. The production structure has shifted in a positive direction, in line with the policy of industrialization towards modernization, focusing more on processed and manufactured products with higher technology content and added value.
Legal regulations on production and business activities are adjusted in accordance with international commitments in a more open, transparent and convenient manner. This creates conditions for improving the investment environment, helping to attract more domestic and foreign investment capital.
Assessing that international economic integration brings many opportunities for businesses and the Vietnamese economy, however, the Trade Defense Department believes that this process also poses some challenges. For example, the reduction of import taxes will lead to an increase in imported goods from other countries, including cheap goods due to unfair competition, affecting Vietnam's manufacturing industries.
On the other hand, the importing country can continue to maintain technical measures, including the abuse of trade defense measures, to restrict the export of Vietnamese enterprises, reducing the effectiveness of international economic integration. " Therefore, trade defense work needs to be deployed in both directions in a reasonable manner to protect the rights and interests of Vietnam in international commitments" - the Trade Defense Department stated.
In that context, with the attention and close coordination of relevant ministries and branches, the Department of Trade Defense said that the Ministry of Industry and Trade continues to promote the implementation of synchronous and comprehensive trade defense work in all aspects as a premise to help unlock development resources. Specifically: Implementing legal regulations on trade defense to protect Vietnam's manufacturing industries from unfair competition of imported goods; supporting manufacturing and exporting enterprises to protect their legitimate rights and interests in foreign trade defense investigations, limiting negative impacts from the abuse of trade defense measures by some countries; implementing major programs and projects to improve capacity on trade defense, combating evasion and origin fraud; building and effectively operating an early warning system...
Premises to help unlock development resources
With the promotion of synchronous and comprehensive implementation, the Department of Trade Defense emphasized that trade defense work has brought about many positive results.
Firstly, the investigation and application of trade defense measures have continued to be promoted, contributing to protecting and re-establishing a fair competitive environment for domestic manufacturing industries in the context of some imported goods showing signs of being dumped or subsidized, causing serious damage to domestic manufacturing industries.
To date, the Ministry of Industry and Trade has initiated a total of 55 trade defense investigations. The investigated items are diverse, including: basic metal products, chemicals and plastics, construction materials, basic consumer goods, many of which are closely related and especially important to the lives of farmers (sugar products, monosodium glutamate related to sugarcane, sorbitol related to cassava).
Accordingly, trade defense measures against imported goods are assessed to have protected domestic manufacturing industries and the jobs of hundreds of thousands of workers. Thanks to the application of reasonable trade defense measures, in accordance with international commitments, domestic manufacturing industries are protected from unfair competition, thereby creating conditions for domestic manufacturing industries to develop, creating more jobs and added value for the economy. From a consumer perspective, long-term trade defense measures help the economy not to be completely dependent on imports, bringing stability and better resilience to external impacts and shocks.
Second, Vietnam's export goods are also facing an increasing number of foreign investigations and trade defense measures. To date, countries have conducted 273 trade defense investigations on our export goods. The Ministry of Industry and Trade always closely follows the entire process of the case to monitor compliance with international commitments of foreign investigation agencies as well as support businesses in handling the case, avoiding the risk of foreign countries abusing trade defense measures to implement protectionist policies, minimizing the negative impact of the case on Vietnam's export activities.
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| Trade defense work will continue to be promoted to support export production enterprises to make the most of benefits from the international economic integration process. Photo: VNA |
Third, in the context of increasingly fierce competition between major economies in the world, even leading to conflicts and trade retaliation, businesses from other countries may seek Vietnam as an investment location to avoid being affected by trade restrictions and retaliation measures applied by major economies. These investments may bring real production activities, creating added value for the Vietnamese economy, but they may also be simple activities, "glazed" investments to evade the restrictions being applied. In fact, the number of foreign investigations into evasion of trade defense measures or evasion of trade defense taxes on goods exported from Vietnam is on the rise.
The Government, the Ministry of Industry and Trade and relevant ministries and sectors have affirmed the common view of resolutely preventing and strictly handling illegal evasion acts through origin fraud and illegal transshipment to protect the legitimate interests of production and export sectors, effectively exploit the benefits of free trade agreements, and at the same time protect the reputation of Vietnamese goods, aiming for the goal of sustainable exports.
Currently, the competent agencies of the Ministry of Industry and Trade, the Ministry of Finance, the Ministry of Planning and Investment, the Ministry of Public Security, and the People's Committees of provinces and cities have coordinated and strengthened the inspection, supervision, and verification of the issuance of certificates of origin, declarations of origin during customs clearance, and foreign investment registration. " Thanks to the above efforts, acts of origin fraud and illegal transshipment to evade trade defense measures are only isolated acts, detected and handled promptly. From there, the reputation of Vietnamese goods is guaranteed, export results are maintained and continue to develop " - according to the Department of Trade Defense.
In addition, through early warning work, the Ministry of Industry and Trade has promptly approached businesses and associations in the industry to provide information, helping businesses understand the principles and procedures of trade defense investigations; the tasks businesses need to perform; and possible scenarios. Thanks to that, businesses have time to prepare to fully and accurately meet the requirements of foreign investigation agencies, protecting the legitimate rights and interests of Vietnamese businesses in trade defense investigations.
The global and regional economic situation continues to be forecasted to have complex and unpredictable developments. The trend of peace, cooperation and development continues to be the major trend in the world, but competition between major economies will become increasingly fierce. Competition is not only limited to traditional industries such as textiles, metallurgy, chemicals but also extends to modern industries such as electronics, telecommunications, and renewable energy.
In addition, as an economy with high openness, proactively and actively participating in the international integration process, Vietnam is gradually participating more deeply in the global production and supply chain. Along with that, competitive pressure will be increasingly greater in the domestic and international markets.
Therefore, according to the Trade Defense Department, trade defense work will continue to be focused on to grasp, analyze, evaluate, and accurately forecast the situation, proactively take measures in accordance with legal regulations to help domestic manufacturing industries improve their competitiveness, promote the value-added content of the economy as well as support export manufacturing enterprises to take full advantage of the benefits from the process of international economic integration.
Source: https://congthuong.vn/phong-ve-thuong-mai-trien-khai-dong-bo-toan-dien-tien-de-giup-khoi-thong-nguon-luc-phat-trien-365573.html
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