What keeps Vietnamese firms from using trade defence instruments against foreign commodity flows was the subject of a survey released at a seminar in Hanoi on October 14.
Under the poll conducted by the Vietnam Chamber of Commerce and Industry (VCCI)’s World Trade Organisation Integration Support Centre, between 60 and 70 percent of the 1,000 surveyed businesses said they have learned of such instruments since late 2014.
One-third of respondents raised concern that some foreign products are sold on the Vietnamese markets at prices lower than in their homelands, which is illegal.
Nguyen Thi Thu Trang, Director of the centre, said Vietnamese enterprises have accumulated experience in coping with anti-dumping lawsuits, particularly those in the US against tra and basa fish and frozen shrimps.
Though Vietnam’s exports are subjected to about 70 legal proceedings abroad, Vietnam only uses trade defence instruments four times.
Also according to the survey, 86 percent of polled businesses are concerned about financial difficulties if they take legal action. Only around 12 percent consider going to court if necessary despite the high legal costs.
Economists said only big companies with strong resources and large market shares are willing and able to take trade defence action.
Lawyer Pham Le Vinh from ATIM law firm said most of domestic enterprises hesitate to confront foreign rivals when it comes to filing lawsuits.
Dinh Thi My Loan, Chairwoman of the Advisory Council on International Trade Remedies under the VCCI, said Vietnamese firms need to adopt trade defence tools to protect domestic business environment and fair competition.-VNA