Trade ministry extends sugar trade remedies for another five years
VOV.VN - Vietnam's Ministry of Industry and Trade has extended anti-dumping and countervailing duties on certain cane sugar products from Thailand for another five years, through June 15, 2031.
The ministry also renewed anti-circumvention measures on certain cane sugar products originating from Cambodia, Malaysia, Myanmar, Laos and Indonesia to ensure the effectiveness of the existing trade remedies.
Vietnam first imposed anti-dumping and countervailing duties on certain Thai cane sugar products in June 2021, followed by anti-circumvention measures on sugar imports from the five ASEAN countries in August 2022.
The decision follows a sunset review conducted in accordance with Vietnam's Law on Foreign Trade Management and the rules of the World Trade Organization (WTO).
The findings show that the measures have helped create fairer competition in the domestic market and significantly curbed imports of dumped and subsidised sugar from Thailand, benefiting Vietnam's sugar industry and sugarcane growers.
The investigation also found that Thai sugar imports continued to be dumped and subsidised during the review period, with a risk that such practices could continue or recur if the measures were allowed to expire.
Sugar imports have shown signs of increasing again over the past two crop seasons as Thai sugar prices fell, the ministry said.
Based on its findings, the ministry concluded that ending the measures could lead to the continuation or recurrence of dumping and subsidisation, causing injury to Vietnam's domestic sugar industry.
It therefore deemed a further five-year extension necessary to maintain fair competition, safeguard domestic production and protect the livelihoods of hundreds of thousands of sugarcane farming households.