Will complete the dossier requesting the US to reconsider its market economy regulations

The Ministry of Industry and Trade will research and analyze arguments in the US Department of Commerce's Vietnam Economic Assessment Report, to supplement, complete, and send a dossier to request the DOC to review market economy regulations. for Vietnam.

Immediately after the US Department of Commerce (DOC) announced the continued non-recognition of Vietnam as a country with a market economy, August 2, 8, The Ministry of Industry and Trade said that it will research and analyze the arguments in the US Department of Commerce's Vietnam Economic Assessment Report, to supplement and complete the arguments to send a dossier to request the DOC to reconsider the regulation. market economic mechanism for Vietnam.

Along with that, the Ministry of Industry and Trade will accompany Vietnamese businesses exporting to the US market in anti-dumping and anti-subsidy investigations to ensure the highest benefits for the Vietnamese business community. .

The fact that the US has not recognized Vietnam as having a market economy means that businesses exporting goods to the US will continue to be discriminated against in anti-dumping and subsidy investigations.

Because, the actual production costs of Vietnamese enterprises are not used to calculate the dumping margin but must use the "replacement value" of a third country.

In 2023, the export turnover of goods to the US will reach 97 billion USD, down about 13 billion USD compared to 2022, due to the impact of the economic downturn. global trade. In particular, exports of electronics, machinery and equipment, textiles and garments, footwear, wood and wood products and seafood to the US account for a large turnover.

Currently, 72 countries have recognized Vietnam as having a market economy, including major economies such as England, Canada, Australia, Japan, South Korea, New Zealand...

Vietnam has also participated in 17 bilateral and multilateral free trade agreements with more than 60 partners spread across continents.

Meanwhile, according to statistics from the World Trade Organization (WTO), the US is currently the leading country in the world in investigating and applying trade defense measures and is also the country that investigates and applies many most trade defense measures for Vietnamese export goods.

To date, the US has investigated 64 cases out of a total of 253 foreign cases investigating Vietnamese export goods (accounting for 25%), including: 28 anti-dumping cases, 11 anti-subsidy cases. , 22 anti-trade tax evasion cases and 3 self-defense cases.

In defense cases, if a country that has not been recognized as having a market economy has the goods being sued, the US will use the costs of a third country (substitute country) to calculate the dumping margin. prices and subsidies in anti-dumping and subsidy cases cause dumping/subsidy tax rates to increase. This does not accurately reflect the costs and production and business situation of exporting enterprises.

In fact, the US Department of Commerce has applied this method since the first case with Vietnamese pangasius in 2002, then maintained this precedent in all anti-dumping investigations of exported goods. Vietnam's exports.

On August 3, responding to a reporter's question asking for Vietnam's reaction to the US Department of Commerce continuing to identify Vietnam as a non-market economy, Spokesperson of the Ministry of Foreign Affairs of Vietnam Pham Thu Hang stated:

“We are disappointed that the DOC continues to identify Vietnam as a non-market economy. Although recognizing many positive changes in the Vietnamese economy in recent times, this decision does not fully reflect Vietnam's great efforts and achievements in building and developing a market economy. has been recognized by the international community.

Recently, Vietnamese agencies and businesses have actively coordinated with the US Department of Commerce to provide many convincing arguments affirming that Vietnam's economy has fully met 6 market economy criteria according to regulations. provisions of US law. This is also supported by many American and international associations, businesses, and experts.

In the spirit of the comprehensive strategic partnership, Vietnam requests that the US continue to implement its commitment to broad, strong, constructive coordination and move toward early recognition of Vietnam's market economy status. Vietnam. Relevant Vietnamese agencies will continue to coordinate closely with US partners to ensure that bilateral economic and trade relations continue to develop stably and harmoniously, bringing practical benefits to businesses. and the people of the two countries".

Source: Vietnam.vn