In the past two years, despite having to deal with the Covid-19 pandemic, Vietnam's steel industry still has made spectacular breakthroughs.

According to information from the Vietnam Steel Association (VSA), in the period 2016-2021, Vietnam's steel exports grow by an average of more than 20% per year, of which, finished steel exports are 12% per year. In particular, in the past two years, despite having to deal with the Covid-19 pandemic, the steel industry still made spectacular breakthroughs when in 11 months of 2021, iron and steel exports hit the milestone of 10.8 billion USD with growth of nearly 130% over the same period in 2020.

Currently, Vietnamese steel is not only present in the traditional market of Southeast Asian countries, but also expands to major markets such as Europe, America... However, the rapid increase in export turnover Steel has attracted the attention of many countries and increased investigations into the application of trade remedies.

Data from the Trade Remedies Department (Ministry of Industry and Trade) shows that, from 2004 to October 2021, Vietnam's steel exports faced 66 trade remedy cases. These lawsuits mostly come from the main markets in Vietnam's steel exports such as the US, the EU and even some countries in the region such as Thailand, Indonesia, and Malaysia.

Recently, Mexico has emerged as a market that initiated many trade remedy investigations due to a sudden increase in Vietnam's steel export turnover to this market. The latest in October 2021, Mexico initiated an anti-dumping investigation with galvanized steel imported from Vietnam, with an investigation period of about 10 months.

This is Mexico's first trade remedy lawsuit against Vietnamese exports; It is also the first trade remedy case of a member country of the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) investigating Vietnam after this Agreement came into effect.

Actively defend trade

According to VSA President Nghiem Xuan Da, goods exported from Vietnam can be sued for trade remedies in any country, large or small market, field or commodity because this is an inevitable trend. next time.

Because Vietnam's steel exports to markets with FTAs, it is inevitable to face trade remedy lawsuits. When facing lawsuits, Vietnam's steel manufacturing enterprises face many difficulties because of limited awareness of this issue, weak capacity to participate in lawsuits, and level of understanding about these measures. not enough,...

Therefore, VSA has cooperated with the Trade Remedies Department to guide businesses to prepare data, books and documents to answer and provide information to meet the requirements of investigation authorities in the countries applying for this application. trade defense with steel products.

In the coming time, steel manufacturing enterprises need to carefully prepare knowledge and experience, have solutions to improve competitiveness, improve governance, establish value chains to expand space. For export, do not put "eggs in one basket" to limit trade remedy risks in some markets.

Specifically, legal capacity must be improved, especially financial resources, because the costs to pursue investigations are often very large, focusing on hiring foreign lawyers and consulting firms.

In addition, the accounting system of the enterprise must also be clear and transparent according to international standards so that when there is a request for inspection, the enterprise is fully in the initiative to demonstrate the transparency of the product. . At the same time, businesses need to calm down, prepare their minds, have a business strategy that takes into account trade remedy risks, and prepare resources, don't wait until they are sued to "run".

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