The Korea Trade Commission under the Ministry of Trade, Industry and Energy (MOTIE) of the Republic of Korea (RoK) on December 9 announced that it successfully co-hosted the 9th conference on the Vietnam-RoK trade remedy cooperation and the 10th meeting of the Vietnam-RoK Free Trade Agreement (FTA) Committee on Trade Remedy to discuss ways to boost cooperation with the Vietnamese Government in the field of trade remedies.

Illustrative photo.

The two countries have maintained annual exchanges to discuss bilateral trade-remedy issues, based on the Vietnam–RoK FTA which came into effect in 2015, and the memorandum of understanding (MoU) on expanded cooperation between their trade-remedy authorities signed in 2018.

At the meetings held in Vietnam's central city of Da Nang, both sides shared updates on changes in relevant laws, policies and organisational structures, while exchanging views on each country’s import regulations.

Technical matters concerning investigations, including cross-border subsidies and procedures for initiating probes, were also discussed.

Currently, both the RoK and Vietnam are each applying four trade-remedy measures on goods imported from the other. In particular, the RoK side called on Vietnam to exercise caution in its application of anti-dumping measures on four steel products from the RoK.

A MOTIE official said that through the discussions, the two sides agreed to continue operating their trade-remedy systems in a prudent, transparent and fair manner.

They also pledged to enhance bilateral cooperation in dealing with emerging issues related to trade remedies, including acts of anti-dumping duty circumvention.

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