Export businesses must be better prepared to cope with the increasing number of anti-dumping and anti-subsidy lawsuits filed by the US, and other export markets, experts have warned.
Export businesses play an integral part in dealing with anti-dumping and anti-subsidy lawsuits, according to Nguyen Chi Mai, former director general of the Vietnam Competition Authority under the Ministry of Industry and Trade.
She discussed how to lower the risk of export activities at a conference held in HCM City on June 28 by the World Trade Organisation’s Affairs Consultation Centre in HCM City in coordination with the Ministry of Industry and Trade’s Competition Management Department and HCM City Business Association.
Mai said that to cope with such lawsuits, export businesses should closely work together to take initiatives in preventing lawsuits from happening and to minimise the consequences.
They should also learn about other countries’ anti-dumping and anti-subsidy regulations, she added.
Other participants suggested that export businesses diversify export products, expand the number of export markets and enhance their roles in business associations and industry organisations.
They should always update information about exports, export markets, prices, rivals and market movements.
Some emphasized that exporters should further invest in technology to add value to their products, which would help reduce the possibility of anti-dumping lawsuits.
It was agreed that government agencies should support the business community and industry associations in promoting dialogues with local companies and manufacturers.
One important task for the government is to provide exporters with sufficient information and evaluate the market situation of import countries, including information about market share, prices, competitiveness, and reaction of local industries in the import countries.
Dinh Anh Tuyet, attorney at IDVN Lawyers, said that export businesses should keep in touch with the Competitiveness Management Department, business associations and prestigious lawyers to find ways to solve trade disputes.