Turkey imposes anti-dumping duties on Vietnamese yarn

24 Nov '16

2 min read

Turkey's general directorate of imports has decided to impose anti-dumping duties ranging from 34.81 per cent to 72.56 per cent on polyester textured yarn items imported from Vietnam. Turkey had initiated anti-dumping investigation on polyester textured yarn imported from Vietnam in May this year, following a complaint by Korteks Mensucat Sanayive Tic. A.S.

Varying anti-dumping duty rates will be applied to different Vietnamese companies. Rates ranging between 34.81 per cent and 68.98 per cent will be imposed on companies like Hualon Corporation Vietnam, Formosa Industries Corporation, Century Synthetic Fiber Corporation, and PetroVietnam Petrochemical and Textile Fiber JSC. All the remaining companies will be subject to anti-dumping duty of 72.56 per cent, Vietnamese media reported.

However, Turkey is yet to announce the date from which the duties will take effect.

Turkey is one of the most important markets for Vietnamese yarn manufacturers as the country imports a third of Vietnamese exports. Owing to the high anti-dumping duties, a number of Vietnamese companies have shifted their attention to other nations such as China and South Korea, said the Vietnam competition authority and the Vietnam cotton and spinning association.

Turkey has also imposed similar duties on man-made and synthetic yarns and artificial staple fibres on various countries like Malaysia, Greece, Pakistan and Thailand, apart from Vietnam. (KD)

Fibre2Fashion News Desk – India

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