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PHNOM PENH: (Bernama) Vietnam, Asean’s major trading partner, has said that regional trade protectionism remains a hurdle for its exports to Southeast Asian markets, and that the government did not offer subsidies to Vietnamese goods nor intervened in the market.
The Ministry of Industry and Trade reported that Vietnam is facing a total of 268 trade defence probes, with more than half originating from Asia, Africa, and Oceania, according to Vietnam News.
"In Asean alone, Malaysia, Indonesia, the Philippines and Thailand have investigated 52 cases involving Vietnamese goods.
"In Oceania, Australia has investigated 19 cases involving Vietnam,” said the ministry’s Trade Remedies Authority Director Trinh Anh Tuan.
Vietnam’s main exports to Asian markets are agricultural products, computers, construction materials, mobile phones and electronic components, electrical products, wood products, chemicals, and textiles, said the report.
According to Vietnam’s General Department of Customs, in the first nine months of 2024, the country’s exports to Asean reached nearly US$27.6 billion, up 13.1 per cent compared to the same period last year.
The ministry organised a conference on Tuesday to discuss anti-subsidy investigations against Vietnamese goods and ways to respond to protect its exports.
"Particularly, in markets like Australia, the Philippines and Indonesia, we have successfully proved that the government did not provide subsidies to Vietnamese goods, or intervene in the market,” Tuan said at the conference.
In a span of twenty years, Intra-Asean trade has increased almost five-fold - reaching close to a staggering RM15 trillion (US$3.5 trillion) last year compared to only RM3.7 trillion (US$872 billion) in 2003.
The massive growth is mainly due to improved logistic networks, trade liberalisation, and tariff reductions under the Common Effective Preferential Tariff Scheme for the Asean Free Trade Area.
Meanwhile, Deputy Minister of Industry and Trade Phan Thị Thang said at the conference that Vietnam has signed 17 trade agreements and negotiating two more trade pacts to make the nation one of the most open economies in the world,” reported Vietnam News. - Bernama
