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Anti-dumping duties on polyester filament yarn originating from China, India, Indonesia, and Malaysia
Anti-dumping duties on polyester filament yarn originating from China, India, Indonesia, and Malaysia
On October 13, 2021, the Ministry of Industry and Trade issued Decision No. 2302/QD-BCT on the application of official anti-dumping measures (CBPG) to a number of polyester filament products originating from China, India, Indonesia and Malaysia. Accordingly, the Ministry of Industry and Trade continues to maintain the anti-dumping tax previously applied under Decision No. 2080/QD-BCT dated August 31, 2021 to apply temporary anti-dumping tax on some polyester filament products from the above countries.
The Ministry of Industry and Trade started investigating the case from April 2020 on the basis of the request of the domestic manufacturing industry submitted in November 2019. The investigation process of the case is carried out in accordance with the provisions of the Law. Management of foreign trade and related regulations as well as the Anti-Dumping Agreement of the World Trade Organization. In the context of the Covid-19 pandemic, in order to facilitate the relevant parties to prepare sufficient information and data as well as to clarify the impact of dumping on the operation of the domestic manufacturing industry, including downstream manufacturing industries, the Ministry of Industry and Trade has extended the time limit for investigating the case to October 6, 2021.
The results of the official investigation showed a sudden increase in the amount of investigated goods imported from China, India, Indonesia and Malaysia. In particular, in the context of Covid-19, polyester filament yarn imports in the first 6 months of 2021 reached nearly 258,000 tons, up 37% over the same period in 2020. Dumping imported goods was the main cause of causing great damage to the domestic industry.
The application of official anti-dumping measures will contribute to creating an equal competitive environment for domestic industries, enhancing the autonomy of input materials, thereby enhancing value – added and competitiveness of Vietnamese products and enterprises in the global value chain. In addition, Vietnam has joined many Free Trade Agreements (FTAs), creating favorable conditions for many economic sectors, including textiles, to expand export markets. However, in order to enjoy tariff preferences, the domestic manufacturing industry must meet strict rules of origin according to each FTA. Therefore, increasing the initiative in the production of raw materials, meeting the requirements of origin will help the textile industry to take advantage of the benefits from FTAs.
In the coming time, the Ministry of Industry and Trade will continue to coordinate with relevant ministries and related parties to monitor the impact of trade remedies, production situation, supply-demand, prices, etc. to ensure a fair competitive environment with equality and convenience for the manufacturing industry in accordance with regulations.
ORIGINS | PRELIMINARY RATE % | FINAL RATE % |
INDIA | 54.9% | 54.9% |
INDONESIA | 21.94% | 21.94% |
MALAYSIA | 21.23% | 21.45% |
CHINA | 3.36%-17.45% | 3.36%-17.45% |
BOD Resolution pertaining to the share offering
According
to the General Statistics Office of Vietnam, Vietnam made $ 13.18
billion in the first six months of the year thanks to exports of textile
and garment products. Meanwhile, data provided by the Bangladesh Export
Promotion Bureau shows that Bangladesh earned $ 11.92 billion from
exporting ready-to-wear products during the same period. However, both
countries suffered a decline in exports of this commodity because of the
pandemic.
Bangladeshi garment exporters explain to a Bangladeshi daily newspaper – that the Covid-19 pandemic has left them lagging behind Vietnam. Mohammad Hatem, Vice President of Bangladesh Knitwear Manufacturers and Exporters Association (BKMEA) told : “Bangladesh’s garment industry has plummeted during March, April and May due to activity. production and supply chain are interrupted by the ban being enforced to stop the spread of coronavirus ”.
“Vietnam’s production activities are not too disrupted because it has better control the spread of Covid-19” – Mr. Hatem said. Bangladesh, the second largest garment exporter after China, fell 20.14% to $ 2.25 billion in March and 85.25% to $ 375 million in April, the biggest drop in history. Exporter of this country. In May, apparel export earnings improved and stood at $ 1.23 billion but still suffered a 62% decline. In June, exports showed signs of recovery, to $ 2.24 billion.
http://textilefocus.com/vietnam-surpassed-bangladesh-garment-textile-exports-first-6-months-2020/