Trade remedies under international law

by VTV413 June 2017 Last updated at 15:07 PM - The Foreign Trade Administration Law was passed at the National Assembly meeting on Monday afternoon.

One of the highlights of the law are trade remedies under international law, to protect the right and the interests of Vietnamese enterprises in the context of Vietnam's deeper integration into the international economy.

As Vietnam integrates deeper into the international economy, Vietnamese businesses are exposed to markets where strict trade remedies are applied. The anti-dumping lawsuit filed by the United States Catfish Association against Vietnam's export tra fish is a typical example.

“When we ask the US government to intervene, the US government responded that under United States law, if the United States Catfish Association and the court have both sued, the US government cannot intervene. Therefore, we must enhance the role of our industry associations, enhance the authority of the Ministry of Industry and Commerce Trade when they have the right to sue, the right to impose temporary protective measures while waiting for the court ruling", according to  Deputy chairman of National Assembly Economics Committee Nguyen Duc Kien.

The highlight of the Foreign Trade Administration Law is the regulations are in line with international trade practice on trade remedies and technical barriers to ensure the domestic market .

The assignment to decide on urgent trade remedies was given to the Ministry of Industry and Commerce TRADE, and is considered as suitable and meet the needs of businesses in import and export activities.

The law has 8 chapters and 113 articles regulating measures for the management and administration of foreign trade related to the purchase and sale of international goods.


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