Illustrative image (Source: vneconomy.vn)

Hanoi – The Ministry of Industry and Trade (MoIT) has issued Decision No. 706/QD-BCT on the imposition of temporary anti-dumping tax rates on some types of welding materials of the Malaysian, Thai and Chinese origins.

During its investigation, the MoIT strictly followed the provisions set out in the Law on Foreign Trade Management, other related regulations, and the Anti-Dumping Agreement under the World Trade Organisation (WTO).

The findings of the investigation indicated that the amount of some types of welding materials imported into the nation from the three countries rose sharply compared to the total domestic consumption and production quantities, thereby causing significant damage to the domestic industry.

At present, stainless steel welding rods and wires make up one of the most important industrial sectors with a capacity of 6,000 tonnes and 66,000 tonnes, respectively, thereby meeting domestic demand, according to the MoIT.

Meanwhile, welding material production are among the supporting industries receiving priority for expansion following the Government Decision No. 115/NQ-CP.

The Trade Remedies Authority of Vietnam emphasised that the MoIT will continue to work with relevant units in order to collect information to assess the case’s comprehensive impact on concerned parties and come up with a final conclusion in the near future.