Technical barrier must to protect domestic steel industry

Vietnam Steel Association (VSA) predicted that in 2010 there would be sharp increase in imported steel volume from Asean countries, China and Russia due to the commitment of tax reduction of at least 1 percent for each kind of goods when joining WTO. Therefore, the domestic steel industry will face more difficulty because the enterprises may receive less support from the state, so they will find it hard to compete with low-price imported steel products.

Up to April 30, 2010, according to the statistic, Vietnam has already imported 1.277 million tonnes of black steel sheet, 150,000 tonnes of cold-scrolled steel, 834,694 tonnes of hot-scrolled steel, 116,000 tonnes of corrugated steel sheet, 24,000 tonnes of steel bars, 144,000 tonnes of rolled steel and 523,000 tonnes of waste steel.

Previously, whenever suffering from pressure from imported steel products, the domestic steel firms called for support from the governance authorities such as the government, ministry of industry and trade and VSA. However, according to the WTO participation roadmap, from 2010 onwards, Vietnam steel industry will no longer be benefited from preferential import tariff.
Therefore, now it is necessary to set up technical barrier for reinforcing the domestic steel protection programme.

TBKTVN

Tags: Vietnam steel industry, Vietnam steel market

Posted by VBN on May 20 2010. Filed under Steel. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry