The Ministry of Trade and Industry (MoIT) has decided to levy a temporary anti-dumping tax of 33.88 percent on sugar imported from Thailand.

The Ministry of Trade and Industry (MoIT) has decided to levy a temporary anti-dumping tax of 33.88 percent on sugar imported from Thailand. (Photo: VNA)

This tax rate will be regularly reviewed to ensure a fair competition environment if there is a strong shift from importing refined and white sugar to importing raw sugar in order to avoid anti-dumping tax at a higher rate.

The decision comes after the MoIT launched an investigation in September 2020 to see if sugar imported from Thailand had received subsidies from the government.

It later found that Thai businesses shipped nearly 1.3 million tonnes of subsidized sugar to Viet Nam last year, an increase of 330.4 percent against the previous year.

The sharp increase in import volume caused serious damage to Viet Nam’s sugar industry, forcing plenty of sugar processing mills to halt operation and lay off workers. According to the ministry, as many as 3,300 workers have lost their jobs and more than 93,000 farmers have been affected.

Therefore, in the coming time, to make the final conclusion about the case, the MoIT will continue to work with relevant parties, verify data and hold a public consultation session The investigation is expected to end in the second quarter of 2021.

Source: VNA