The Ministry of Trade and Commerce on June 15 issued Resolution No.1578/QD-BCT on making use of anti-dumping and anti-subsidy tariffs on a number of sugar merchandise originating from Thailand.
Imported sugar merchandise coded HS 1701.13.00, 1701.14.00, 1701.99.10, 1701.99.90, and 1702.90.91 shall be topic to an anti-dumping tax fee of 42.99% and an anti-subsidy tax fee of 4.65%.These two taxes are extra import taxes to be utilized to sugar imported from Thailand, together with imports beneath tariff quotas.The choice will take impact from June 16 and final for 5 years.Beforehand, the ultimate investigation from the Vietnamese facet decided that a number of Thai sugar cane merchandise imported to Vietnam confirmed indicators of being dumped and subsidised, inflicting significance losses to the home sugar cane business. As well as, there was a causal relation between the import of the dumped and subsidised items and the substantial harm to the home business.The Commerce Cures Authority of Vietnam (Ministry of Trade and Commerce) held a public session (on-line kind) on Might 12 with the participation of 80 delegates representing stakeholders together with Governments, companies, and associations of Thailand and Vietnam.
On the session, representatives of the home sugar business mentioned that the Thai sugar business was supported by the Authorities via the management of the home market and imports, subsidies of exports, direct monetary help of US$1.3 billion per 12 months, debt financing, and others, which has brought on severe harm to the Vietnamese sugar business.
In accordance with home producers, the sudden improvement in the import of Thai sugar since 2020 is the primary reason behind the harm to the home sugar business. The home manufacturing of cane sugar within the 2019-2020 crop was estimated at lower than 800,000 tonnes, down from 1.2 million tonnes within the 2018-2019 crop 12 months.
The Ministry of Trade and Commerce launched the initiation of anti-dumping and anti-subsidy investigation on sugar merchandise imported from Thailand on September 21, 2020, based mostly on the request from the consultant of the home business.