The Ministry of Industry and Trade recently held a conference in HCM City for the businesses and industry groups to acquaint them regarding an internet-based system that serves prior notification about anti-dumping court proceedings.
The system, introduced by the Ministry to operate on a trial basis, is to help out the local businesses to prepare for any likely anti-dumping proceedings that may be initiated against their goods and services in major overseas markets.
He further stated that the system in the initial stages would only keep track of these regulations in the US and European Union, the two main markets for exporters from the country, and in five sectors viz., garment and textile, footwear, seafood, wood products, and electrical cables.
Later, the Ministry even intends to bring within the coverage of the system, other 10 export sectors and five more markets namely, South Korea, Japan, India, Brazil, and Argentina by start of the next year.
Banking on the information that flows from the system, the businesses could then alter their prices well in time, to avoid any legal proceedings, Tuan said.
Fibre2fashion News Desk - India
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