EC Abolishes Anti-Dumping Duties on Vietnam Bikes
The European Union (EU) has decided to stop levying anti-dumping duty on made-in-Vietnam bike from July 15, the Vietnamese Ministry of Industry and Trade said.
The decision came after many efforts by the Vietnamese Embassy and Trade Office in Belgium and the EU and after Minister of Industry and Trade Vu Huy Hoang sent a letter to EU Trade High Commissioner Karel De Guntch on the issue.
Analysts all said the decision will not only benefit European customers but also help Vietnamese bike manufacturers overcome difficulties they have faced over the past five years.
Since the EU levied the anti-dumping taxes of 34.5% on Vietnamese bikes, the Southeast Asian country has suffered a drop of 50 folds in its bike exports to the EU market at 21,421 bicycles in 2009 from nearly 1.068 million units in 2005.
Vietnam’s bike industry employed 210,000 workers to produce 200,000 units in 2005, but the figures fell to 5,000 and 20,000 last year, respectively.
On June 18, Deputy Prime Minister Hoang Trung Hai paid a visit to the EC during which Hai held talks with Karel De Guntch on strengthening comprehensive cooperation between Vietnam and the EU and measures to boost bilateral ties in economics, trade and investment.
Hai also suggested the EU consider re-granting the Generalized System of Preferences (GSP) to Vietnam and ending its imposition of anti-dumping duties on Vietnam’s leather-capped shoes and bicycles exported to this market. (MoIT)
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