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Brazil stops VSF dumping probe against Vietnam
13
Sep '12
The Development, Industry and Foreign Trade Ministry of Brazil has discontinued the investigation into alleged dumping of viscose staple fibre (VSF) by Vietnamese firms that was initiated in September last year.
 
Brazil had initiated VSF dumping probe at the behest of the country’s fibre and yarn producers to safeguard the domestic industry.
 
Vietnam exported US$ 1.17 billion worth of fibre and yarn during January-July 2012, showing a dip of 1.52 percent year-on-year, according to the Vietnam Textile and Garment Association (VITAS).
 
Vietnam’s Ministry of Industry and Trade said it took eight months after initiation of the probe for the Brazilian Department of Commercial Defence to hold a dialogue with Vietnamese exporters.
 
Following the dialogue, by end of August 2012, the Brazilian Government officially announced that the probe has been halted. This has increased the respect for Vietnamese fibre exporters among the global community, the Vietnamese Ministry said.
 
However, it added that though Brazil has halted the probe at present, it is likely to re-open the case when it gets more proof.
 
The Ministry suggested that Vietnamese firms should take a lesson from the episode and should focus on expanding their markets, rather than eyeing rapid growth in just one market.
 

Fibre2fashion News Desk - India

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