Ensuring fair competition between imported and domestically produced steel.
On the afternoon of October 23rd, at the Ministry of Industry and Trade's regular press conference, in response to a reporter's question regarding the impact of the recent sharp increase in steel imports on the domestic manufacturing industry, Mr. Chu Thang Trung, Deputy Director of the Trade Remedies Department, stated that domestically, the hot-rolled steel (HRC) industry currently has two enterprises with a total capacity of approximately 8.6 million tons per year, which are consumed in the domestic market and exported to other markets at a 50:50 ratio.
Meanwhile, the Ministry of Industry and Trade estimates the domestic market's demand for hot-rolled steel at approximately 13 million tons per year. Therefore, "imports have remained an important source of supplementary supply to meet domestic market demand throughout this period," Mr. Chu Thang Trung affirmed.
 |
| Mr. Chu Thang Trung, Deputy Director of the Trade Defense Department, speaks at the press conference. Photo: Can Dung |
The head of the Trade Remedies Department added that, based on a request from the domestic manufacturing industry, the Ministry of Industry and Trade recently issued Decision No. 1985/QD-BCT on conducting an investigation into the application of anti-dumping measures against hot-rolled steel products originating from India and China, in order to ensure a fair competitive environment between imported goods and domestically produced goods.
According to the investigation process, the Ministry of Industry and Trade has sent investigation questions to all relevant parties. To date, the Ministry has received 20 responses from foreign businesses, domestic businesses, and importing businesses. “Based on the information and data provided by the relevant parties, the Trade Remedies Department is conducting an assessment to determine the price-selling practices of foreign manufacturing and exporting businesses, as well as the impact of imports on the domestic industry, including recent developments regarding the increase in imports,” Mr. Chu Thang Trung informed.
At the same time, it was affirmed that, in cases where there is sufficient preliminary evidence to determine that the domestic industry is affected by dumped imports, the trade defense investigation agency will recommend that the Ministry of Industry and Trade consider applying provisional anti-dumping measures to limit the negative impact on the domestic industry.
 |
| Deputy Minister Nguyen Sinh Nhat Tan answers questions from the press. Photo: Can Dung |
Regarding this issue, Deputy Minister Nguyen Sinh Nhat Tan added that the surge in imports, while trade turnover has decreased, has shown signs indicating the need for an anti-dumping investigation. The Ministry of Industry and Trade will consider the overall supply and demand. “Currently, domestic production cannot meet demand, so we are forced to import. However, if massive imports cause serious harm to domestic production and especially hinder the development of this industry, then there will have to be protective measures,” Deputy Minister Nguyen Sinh Nhat Tan affirmed.
According to the Ministry of Industry and Trade, the current measure is that the Ministry is conducting an investigation to apply anti-dumping measures. Based on this, the aim is to regulate imports and ensure a harmonious balance of interests for all parties. "If the Ministry of Industry and Trade determines that damage has been caused and all the necessary elements are present, then provisional anti-dumping measures will be applied," the Deputy Minister affirmed.
There's no need to worry too much about India lifting its ban on rice exports.
Regarding questions about how India's lifting of the rice export ban will impact Vietnam's export market, Mr. Tran Thanh Hai, Deputy Director of the Import-Export Department, stated that India enacted a law banning rice exports in July 2023, but lifted it on September 28, 2024. "India is a country with a significant role and influence in the global rice market. This move has been closely monitored by the Ministry of Industry and Trade, the Vietnam Food Association, and rice exporting businesses," Mr. Tran Thanh Hai affirmed.
 |
| Mr. Tran Thanh Hai, Deputy Director of the Import-Export Department, giving a speech. Photo: Can Dung |
According to the head of the Import-Export Department, by the end of September, Vietnam's rice exports reached 6.9 million tons, worth approximately 4.3 billion USD, an increase of 23% in value and 13.4% in price compared to the first nine months of 2023.
Based on these results, the Deputy Director of the Import-Export Department assessed that Vietnam's rice exports are quite promising. However, with India lifting its rice export ban, export prices will certainly be affected, and businesses and associations are closely monitoring this development to avoid being caught off guard during the rice export process. "In the coming time, the Ministry of Industry and Trade will continue to work with associations, localities, and businesses to monitor the situation and make appropriate adjustments," Mr. Tran Thanh Hai affirmed.
The head of the Import-Export Department added that Vietnam is implementing a policy of diversification and structural transformation towards high-quality, distinctive rice varieties such as fragrant rice, to avoid competition with Indian rice exports and to minimize potential negative impacts.
Recalling Prime Minister Pham Minh Chinh 's directives at the Conference on the Implementation of the Project "Sustainable Development of One Million Hectares of High-Quality, Low-Emission Rice Cultivation Associated with Green Growth in the Mekong Delta by 2030" regarding product diversification, improving rice quality, and especially brand building, Deputy Minister Nguyen Sinh Nhat Tan affirmed: "With the unique and distinctive brand of Vietnamese rice, we can be completely confident in competing fairly with other countries. India's policies will certainly have an impact, but there is no need to be overly concerned."
Source: https://congthuong.vn/ap-dung-chong-ban-pha-gia-neu-thep-nhap-khau-anh-huong-xau-toi-san-xuat-trong-nuoc-354313.html
Comment (0)