Available at www.canhbaosom.vn, the system was built under a cooperative agreement between the Ministry of Industry and Trade's Viet Nam Competition Authority and the Global Competition Fund of Denmark.
In the first phase, the site will focus on the sectors of textile and garment, footwear, seafood, wood products and electrical cables, and upon two major markets, the US and EU.
Eventually, information and warnings will extend to 20 sectors and 10 major markets.
Deputy Minister of Industry and Trade Le Danh Vinh, addressing yesterday's launch ceremony, said the system would help businesses cope with trade lawsuits effectively as well as warn them of the risks of anti-dumping lawsuits in their sectors.
Anti-dumping cases have caused substantial negative effects on Viet Nam's economy, not only losing export revenue for companies but also causing them to incur legal costs to litigate dumping claims.
Vinh said he hoped the new system would help Vietnamese enterprises better prepare for and take active perventative measures against anti-dumping lawsuits, reducing their losses.
The system would thereby help Viet Nam maintain and increase its export value, increasing the competiveness of Vietnamese industries on global markets, he said.
Danish Ambassador to Viet Nam John Nielsen said the Southeast Asian country would have to face the challenges brought about by freedom of trade, and the early warning system would be an effective tool to increase the awareness of Vietnamese exporters.
He urged Vietnamese enterprises to apply transparent accounting standards as proof against dumping accusations.
Viet Nam has faced 31 anti-dumping lawsuits related to tra and basa fish, shrimp and leather shoe exports since 1994, according to the Viet Nam Competition Authority. — VNS
