Vietnam imposes anti-dumping and anti-subsidy tax on Thai sugar
VOV.VN - The Ministry of Trade and Industry has moved to levy an anti-dumping duty of 42.99% along with an anti-subsidy tax of 4.65% on some sugar products originating from Thailand.
This comes after preliminary investigation results released on February 9 led to the Ministry of Industry and Trade deciding to impose temporary anti-dumping and anti-subsidy duties on sugar cane products which come from Thailand.
The decision was taken following the Ministry of Industry and Trade launching an anti-dumping and anti-subsidy investigation in September on imported sugar from Thailand on the basis of documents requested by the Vietnam Sugar and Sugarcane Association (VSSA) and domestic sugar producers.
The results of the investigation indicate that sugar products imported from the Thai market, including refined sugar and unrefined, were subsidised and dumped at 47.64%.
This comes following Thai businesses shipping roughly 1.3 million tonnes of subsidised sugar to the Vietnamese market last year, representing a significant increase of 330.4% compared to the previous year.
This sharp increase in terms of import volume has caused serious damage to the local sugar industry as it has forced a number of sugar processing mills to halt operations.
After conducting an assessment on the socio-economic impact in accordance with the Law on Foreign Trade Management, the Ministry of Industry and Trade has decided to impose anti-dumping and anti-subsidy duties of 42.99% and 4.65%, respectively, on some sugar products originating from Thailand.
The decision to impose anti-dumping and anti-subsidy tax will be valid for the next five years and can be reviewed in accordance with the law.
