Vietnam completes anti-dumping probe into corn syrup from China, RoK
The Ministry of Industry and Trade (MoIT) has completed an anti-dumping investigation into high-fructose corn syrup (HFCS) imported from China and the Republic of Korea, according to the MoIT’s Trade Remedies Authority of Vietnam (TRAV).
Hanoi (VNA) – The Ministry of Industry andTrade (MoIT) has completed an anti-dumping investigation into high-fructosecorn syrup (HFCS) imported from China and the Republic of Korea, according tothe MoIT’s Trade Remedies Authority of Vietnam (TRAV).
The investigation was launched in June last year followinga petition from a number of domestic HFCS producers filed with the ministry inMay proposing anti-dumping measures imposed on the HFCS originated from the twocountries.
During the probe, the MoIT has collected information andviews of point from concerned parties, while carefully evaluating the impactsof the imported HFCS on the local industry and dumping margins of the Chineseand Korean producers in accordance to regulations of the World TradeOrganisation (WTO), the Law on Foreign Trade Management and relevant legaldocuments.
The ministry determined that the HFCS originated fromChina and the RoK are being dumped in Vietnam and the domestic industry hasbeen suffering significant losses. However, there is no obvious causal relations betweenthe dumping acts by the Chinese and Korean exporters and the damage of thedomestic industry.
Basing oneself on Vietnam's legal regulations on trade defence and the WTO's anti-dumping agreement, as well as opinions from relevant parties, including domestic producers, the MoIT decided to terminate the investigation.
The MoIT said it will coordinate with stakeholders tocontinue keeping a watch on the imports of HFCS into Vietnam, so as to come upwith proper measures to protect the legitimate rights of Vietnamese producersand consumers./.
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