Photo: satthep
(VOVworld) - Vietnam notified the WTO Secretariat on 1 June 2015 that it has initiated new dispute proceedings against Indonesia regarding its imposition of a safeguard measure on imports of flat-rolled products of iron or non-alloy steel. Vietnam’s complaint also mentions the investigation and determinations leading to the imposition of the safeguard measure and other aspects related to the notification requirements and consultations required under the General Agreement on Tariffs and Trade (GATT) and the Agreement on Safeguards.
The request for consultations formally initiates a dispute in the WTO. Consultations give the parties an opportunity to discuss the matter and to find a satisfactory solution without proceeding further with litigation. Vietnam hopes both sides will reach an agreement on settling the issue following consultations without having to request adjudication by a panel.
On July, 7th, 2014, the Indonesian Finance Ministry decided to impose a safeguard measure on imports of flat-rolled products of iron from Vietnam over 3 years, from 2014 to 2016. The anti-dumping tax rate is high and accounts for 50% of the selling price of Vietnamese cold rolled steel sheets in the Indonesian market in 2014, 46% in 2015, and 41% in 2016.