Vietnam criticises India's anti-dumping duties

Tuesday, 31 March 2009, 10:37 Hrs
Printer Print Email Email
Hanoi: Vietnamese authorities Tuesday criticised India's decision to impose anti-dumping duties on Vietnamese textiles.

"This decision is unfriendly and unreasonable," said Nguyen Thanh Bien, Vietnam's deputy minister of trade and industry.

India Friday imposed anti-dumping duties on thread and fabrics imported from China, Thailand and Vietnam.

According to Nguyen Duc Thanh, deputy director of Vietnam's Competitiveness Administration, the initial anti-dumping tariff on Vietnamese thread and fabrics is 16.32 percent. The tariff is based on preliminary findings by Indian authorities that Vietnamese fabrics were being sold 16.32 percent below cost.

The current level of anti-dumping duties for Vietnam, China and Thailand will remain in force until Sep 25, when India will complete its investigation process and decide to cancel, lower or raise the tariffs.

Thanh said Vietnamese textile companies are small- and medium-sized, and lack the needed capital to dump goods below cost in order to gain market share.

"Vietnamese companies cannot dump their products," he said.

Thanh said several countries were making use of "trade remedies" allowed under WTO regulations when imports are found to be sold below cost or to cause sudden harm to domestic industries.

Vietnamese textiles have a market share of just over 3 percent in India.
Source: IANS
GST rate cut to spur Bengaluru
The realty market in India's tech hub is set to grow as lower Goods and Services Tax (GST) rate..
Fossil Group sells smartwatch
Global watch and accessories maker Fossil Group has announced to sell its smartphone technolog..
Ola raises Rs 400 cr for electric
Leading ride-hailing cab aggregator Ola on Friday said it raised Rs 400 crore from its early in..
SpiceJet plans aggressive
Budget passenger carrier SpiceJet plans to aggressively expand its international networks to fl..