The European Union (EU) has just decided to impose anti-dumping tariffs of 15.8-34.5 percent on imports of bicycles originating in Vietnam, the country's Bicycle and Motorbike Association said Saturday.

Due to the tariffs, export revenues of Vietnamese bicycles will drop 30-50 percent this year, the association said, noting that Vietnam last year earned 250 million US dollars from shipping bicycles abroad, mainly to the EU.

The anti-dumping lawsuit filed by the European Bicycle Manufacturers Association in 2004 involves nine bicycle companies in Vietnam, including six Taiwanese-invested firms. Eventually, only the six Taiwanese-invested companies are subject to the anti- dumping tariffs, instead of the previous import tax of 15 percent.

Vietnam reaped 101 million dollars from exporting bicycles and their spare parts, mainly to the EU, in the first half of this year, posting a year-on-year decrease of 18.7 percent, the local association said.

Source: Xinhua