Indonesia extends safeguard measures on polystyrene products from Vietnam

16:34 | 03/12/2024 Trade Follow Ven.vn on

The Indonesian Trade Safeguards Committee (KPPI) has announced the extension of safeguard measures on expansible polystyrene (EPS) products with the HS code 3903.11.10, in which Vietnam is not included on the list of excluded developing countries.

Indonesia extends safeguard measures on polystyrene products from Vietnam

According to the statistics, the majority of imports of expansible polystyrene in 2023 came from Taiwan (China) with an import share of up to 47.09%, followed by China at 37.56%, and Vietnam at 13.36%.

Based on the investigation, KPPI said that the Indonesian domestic industry is still adjusting, considering it a necessary step to extend safeguard measures in order to remedy the damage.

Despite a decline in imports of products during the 2021 - 2023 investigation period, the Indonesian domestic industry was unable to recover the damage, as evidenced by a 3% decline in domestic sales and a 9% decline in profits.

The safeguard duty is expected to continue to be applied for another three years. It will take effect from December 23, 2024 to December 22, 2027.

The Trade Remedies Authority of Vietnam recommended that businesses and relevant associations continue to monitor the situation to make appropriate adjustments on production and export activities to the Indonesian market.

Source: VOV

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