Malaysia Lifts Anti-Dumping Duties on Vietnamese Steel Products

Strategic Insights -

Malaysia's Ministry of Investment, Trade and Industry (MITI) has made a significant decision to remove anti-dumping duties and investigations on imported goods from Vietnam, effective from June 23. This move comes after a long-standing review initiated by the Malaysian steel industry, which aimed to protect the country's steel sector from unfair trade practices. The review, conducted under the World Trade Organization's Anti-Dumping Agreement and Malaysia's Countervailing and Anti-Dumping Duties Act 1993, will continue to impose duties on Chinese and Japanese steel producers.

Key Takeaways:

  • Malaysia has decided to remove anti-dumping duties on cold-rolled steel or non-alloy steel products with a width greater than 1,300mm imported from Vietnam, effective from June 23.
  • The anti-dumping duties on Vietnamese steel products were first imposed in 2015 and extended in 2020 to protect Malaysia's steel industry from unfair trade practices and dumping by foreign producers.
  • The review was initiated by Mycron Steel CRC Sdn. Bhd., representing the Malaysian steel industry, on December 24 last year, following a request for an administrative review on the expiry of anti-dumping duties.
  • Malaysia has chosen to continue imposing duties on Chinese and Japanese steel producers, whereas duties on South Korean and Vietnamese exporters will be lifted.
  • The decision to lift anti-dumping duties on Vietnamese steel is a significant positive signal that can help Vietnamese companies deepen their presence in the Southeast Asian export market.

Statistics:

  • The anti-dumping duties on Vietnamese steel were first imposed in 2015.
  • The review was initiated on December 24 last year, and the decision was made effective from June 23.
  • The duties on Chinese and Japanese steel producers will continue to be imposed, whereas duties on South Korean and Vietnamese exporters will be lifted.

Sources:

Source 1: Malaysia's Ministry of Investment, Trade and Industry (MITI)

Source 2: World Trade Organization's Anti-Dumping Agreement