How to eliminate trade conflicts after implementation of EVFTA With the Vietnam-EU Free Trade Agreement (EVFTA) set to take effect in July after gaining the approval of the National Assembly, the pact is set to open up a wealth of opportunities for local businesses to boost production and exports, although some believe that there are potential risks of trade conflicts occurring. In 2019, some of Vietnam’s steel products were subject to high anti-dumping duties by several countries In order to assist Vietnamese businesses in dealing with the risks and challenges of potential trade conflicts when the EVFTA is implemented,Le Trieu Dung, director general of Trade Remedies Authority of Vietnam under the Ministry of Industry and Trade stated that research, forecast, and warning activities must be intensified in a bid to cope with trade remedies which can be applied to Vietnamese exports, including investigations against evasion of trade remedies. In addition, the MoIT has proposed that the government should bring cases to the WTO Dispute Settlement Mechanisms, whilst the ministry has co-ordinated efforts with the Ministry of Agriculture and Rural Development, the Vietnam Association of Seafood Exporters and Producers, as well as enterprises to successfully handle two WTO disputes relating to… Read full this story
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