Bringing along an eager mind to enter the new Lunar year, the community of businesses in HCMC hope that the global economy will gradually recover, and that they will receive more orders in the future to overcome current financial difficulties.
In the first four months of this year, export turnover to the US market had continuously seen sharp increases, maintaining the growth of over 20 percent over the same period. This is not beyond the expectation of enterprises. Besides the advantages that Vietnamese enterprises have got in their hands, the commercial counselor of the Vietnam Trade Office in the US also warned that this market is containing many great risks.
Based on the investigation results from September 2019 to now, the Ministry of Industry and Trade has just issued Decision No.3390 on the application of anti-dumping measures for some cold-rolled steel products in rolls or sheets originating from China and being dumped into Vietnam.
Vietnam's steel products are facing the risk that the export market will be narrowed due to several trade-remedy investigations and the imposition of anti-dumping duties. Facing that fact, many steel producers are making efforts to improve product quality to change the direction and promote exports to the European market.
Along with several free trade agreements that have been signed, countries in the world have also increased the technical barriers and safeguard measures to protect domestic production. This has caused many Vietnamese enterprises to face the risk of losing the export market if they do not prepare carefully before joining the market.
After flourishing for a long time, steel manufacturers have been facing several difficulties and challenges as intensive investment has caused excess supply while competition in export of steel has become fiercer and fiercer due to booming trade barriers.