English
Vietnam to impose 34% anti-dumping tax on sugar imports from Thailand
HANOI: Vietnam said on Tuesday it plans to impose anti-dumping duties on raw sugar that originates in Thailand, claiming soaring imports are undermining its domestic sugar industry.
The Vietnamese Industry and Trade Ministry said a 33.88% levy would apply on Thai sugar, but a timeframe for when it will come into force has yet to be decided.
Vietnam removed import duties on sugar imported from Southeast Asian countries in 2020 in accordance with the commitments of the Asean Trade in Goods Agreement (ATIGA).
However, provisions allow Asean countries to impose import duties to protect the rights and interests of their domestic industries against anti-competitive behaviour.
Vietnam’s decision to reintroduce duties, specifically for raw sugar, comes after the ministry conducted an anti-dumping investigation that started last September, following complaints by Vietnam sugar industry officials.
The probe’s preliminary results showed that subsidized and dumping of sugar from Thailand surged to 1.3 million tonnes in 2020, up 330.4% from 2019, the ministry said in a statement.
“A series of domestic sugar factories have been closed, causing 3,300 employees to lose their jobs and having negative impacts on 93,225 farmer households,” the statement added.
“An anti-dumping tax of 33.88% will be imposed on raw sugar originated from Thailand and will be reviewed regularly.”
The ministry’s investigation is still ongoing and will conclude in the second quarter. The Vietnamese side will work with relevant agencies to make a final decision on when it will introduce the duty, the ministry said.
Source: https://www.bangkokpost.com/business/2065751/vietnam-to-impose-34-anti-dumping-tax-on-sugar-imports-from-thailand