Global integration serves as a good opportunity for domestic steel makers to expand their market.
However,they still face an increasing number of trade defence instruments, suchas anti-dumping or anti-subsidy duties from importers.
TheVietnam Steel Association (VSA) reports that steel consumption this yearis expected to grow between 10 to 12 percent because of the largevolume of steel sheet product exports and galvanised steel pipes. Inspite of this, cheap steel from China makes up a significant portion ofdomestic steel consumption.
According to Nguyen Van Sua, VSA vicechairman, anti-dumping and anti-subsidy suits will lead to financiallosses for domestic businesses and a decline in export revenues,resulting in the loss of markets for domestic businesses.
From1994 to 2013, Vietnam had to face 52 anti-dumping suits from 15different countries around the world. Vietnamese steel exports accountedfor 15 of these suits.
Sua reveals that many businesses had notreally paid much attention to trade defence measures and fail toconsider them as part of their business strategy.
Pham Chau Giangof the Vietnam Competitive Authority says a lack of skilled employeesin the investigating agency, the language barrier and lack of financeshave led to poor results in the handling of suits.
Giang also notes that domestic businesses had failed to prepare well for the suits.
Suaobserves that domestic businesses are not fully aware of trade defencemeasures and had failed to work and co-ordinate closely with theinvestigating agency to provide information that will make theinvestigation more accurate and favourable.
Sua attributes thisto the lack of knowledge on international law. He warns that steelproducers must be fully prepared with documents and information and workwith the investigating agency to make the ruling favourable to them.
In addition, concerned agencies need to enhance their professional capacity to help businesses deal with commercial litigation.
NguyenNgoc Quan, general director of Kansai Steel, reveals that manycountries use trade defence measures to effectively counter anti-dumpingand anti-subsidy effects, but some countries have yet to fully exploittrade defence measures' advantages.
If the steel industry knowshow to use trade defence measures to deal with the mass importation ofcheap steel from China, this will create opportunities and markets fordomestic steel makers to further develop.
To bring into fullplay the efficiency of trade defence measures, the role of an ad hocagency and concerned agencies are crucial. In addition, businesses mustalso deepen their understanding and strengthen their cooperation withauthorities to effectively deal with problems arising from suits.-VNA
However,they still face an increasing number of trade defence instruments, suchas anti-dumping or anti-subsidy duties from importers.
TheVietnam Steel Association (VSA) reports that steel consumption this yearis expected to grow between 10 to 12 percent because of the largevolume of steel sheet product exports and galvanised steel pipes. Inspite of this, cheap steel from China makes up a significant portion ofdomestic steel consumption.
According to Nguyen Van Sua, VSA vicechairman, anti-dumping and anti-subsidy suits will lead to financiallosses for domestic businesses and a decline in export revenues,resulting in the loss of markets for domestic businesses.
From1994 to 2013, Vietnam had to face 52 anti-dumping suits from 15different countries around the world. Vietnamese steel exports accountedfor 15 of these suits.
Sua reveals that many businesses had notreally paid much attention to trade defence measures and fail toconsider them as part of their business strategy.
Pham Chau Giangof the Vietnam Competitive Authority says a lack of skilled employeesin the investigating agency, the language barrier and lack of financeshave led to poor results in the handling of suits.
Giang also notes that domestic businesses had failed to prepare well for the suits.
Suaobserves that domestic businesses are not fully aware of trade defencemeasures and had failed to work and co-ordinate closely with theinvestigating agency to provide information that will make theinvestigation more accurate and favourable.
Sua attributes thisto the lack of knowledge on international law. He warns that steelproducers must be fully prepared with documents and information and workwith the investigating agency to make the ruling favourable to them.
In addition, concerned agencies need to enhance their professional capacity to help businesses deal with commercial litigation.
NguyenNgoc Quan, general director of Kansai Steel, reveals that manycountries use trade defence measures to effectively counter anti-dumpingand anti-subsidy effects, but some countries have yet to fully exploittrade defence measures' advantages.
If the steel industry knowshow to use trade defence measures to deal with the mass importation ofcheap steel from China, this will create opportunities and markets fordomestic steel makers to further develop.
To bring into fullplay the efficiency of trade defence measures, the role of an ad hocagency and concerned agencies are crucial. In addition, businesses mustalso deepen their understanding and strengthen their cooperation withauthorities to effectively deal with problems arising from suits.-VNA
