Trade, dumping laws tightened
(VOV) - Vietnam is tightening its trade laws to protect its domestic market in light of the ASEAN Economic Community (AEC) and a number of other free trade agreements in the offing, said Deputy Head Nguyen Thanh Nam of the Vietnam Competition Authority.
"We will reform our laws to better cope with irregular competition in the Vietnamese market by foreign manufacturers and exporters,'' Nam said at a seminar on November 6 in Ho Chi Minh City addressing unfair trade practices and how best to cope with them.
Nam said at the seminar that the new regulations on goods imported and exported would provide a more standard and transparent base for the government to administer trade after the AEC and other free trade regions are formed.
The regulations will insure domestic businesses operating abroad will be protected in foreign markets as well and will fully cover anti-dumping, anti-subsidy and other trade safeguard measures.
He said transparent anti-dumping laws will be the most powerful weapons both at home and abroad to combat unfair trade and domestic businesses need to go the extra mile to make sure they comply with the laws to the letter, to best protect themselves.