EU cuts duty on stainless steel fasteners

November 24, 2010 | 10:54

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The European Union ceased imposing anti-dumping duties on stainless-steel fasteners and parts imported from Vietnam on November 20, said the Trade Office of Vietnam at the EU.

An automatic stop to the duty was announced when none of the EU based producers of these parts sent complaints about Vietnamese competitors to the relevant office in the EU, the office said.

It was good news and would provide a good opportunity for Vietnamese producers of these parts because similar goods made in mainland China and Taiwan would continue to be subject to anti-dumping duties of 85 per cent and 23.6 per cent, respectively, in the coming 12-15 month review period, the office said.

Products made in Indonesia and Thailand were also not subject to the duty.

The EU started to impose a 7.7 per cent anti-dumping tariff on stainless-steel fasteners and parts imported from Vietnam on November 19, 2005 following a complaint from the European Industrial Fasteners Institute (EIFI).

Vietnam was among five Asian countries and territories, including mainland China, Indonesia, Thailand and Taiwan, that the EU hit with anti-dumping tariffs for stainless-steel fasteners.

Vietnamese defendants in the EIFI's lawsuit included Co-Win Viet Nam, Chian Shyang Enterprise and Header Plan Ltd.

The EU conducted its own investigation at the request of Header Plan Co Ltd, a wholly Taiwanese-invested firm in Vietnam's southern Dong Nai province. After the inquiry, the EU decided to abolish the anti-dumping duty on the company's made-in-Vietnam products from August 2009, the office said.

VNS

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