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Turkey will soon apply anti-dumping duties of up to 72.56 percent on polyester textured yarn products from Vietnam.
The decision, made by Turkey's General Directorate of Imports, was confirmed by the trade office of the Vietnamese Embassy in Turkey on Monday.
Turkish authorities are expected to announce when the duties take effect soon.
Four Vietnamese companies will be subject to lower rates of between 34.81 percent and 68.98 percent -- Hualon Corporation Vietnam, Formosa Industries Corporation, Century Synthetic Fiber Corporation, and PetroVietnam Petrochemical and Textile Fiber JSC. The rest will face the maximum rate of 72.56 percent.
According to the Saigon Times, Century Synthetic Fiber Corp has protested the duties and Vietnam’s Ministry of Industry and Trade may file a complaint with the World Trade Organization.
Century Synthetic said it cooperated with Turkish agencies during their anti-dumping investigation. The company also hired a Turkish consulting firm to prepare data, proving that the company was not dumping its products. And yet the company is now facing a 34.81 percent anti-dumping duty.
Turkey is a primary market of Vietnamese yarn, accounting for a third of Vietnamese exports. Local enterprises, however, have been shifting to China and South Korea due to high anti-dumping duties imposed by Turkey in recent years, according to the Vietnam Competition Authority and the Vietnam Cotton and Spinning Association.
Last month the Turkish Ministry of Economy imposed an anti-dumping duty on plywood imported from Vietnam following an investigation. A rate of $240 per cubic meter has been applied since October 28.
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