Tuesday, August 02, 2005
HANOI, Vietnam (August 2) – When the European Union decided to impose anti-dumping tariffs of 34.5 % on imports of bicycles originating in Vietnam, the country's Bicycle and Motorbike Association was shocked. In a press statement they have already announced that due to the tariffs, export revenues of Vietnamese bicycles will drop 30-50% this year. In the first half of this year, a 18.7% decrease was posted, the local association said. The association also noted that Vietnam earned US$ 250 million last year from shipping bicycles abroad, mainly to the EU. (MH)
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