U.S. Likely to Remove Anti-dumping Tax on Vietnamese Frozen Shrimp
Keneth J. Pierce, head of the U.S.’s Washington, DC’s International Trade and Customs Department, said that the U.S. is likely to remove anti-dumping tariff on Vietnamese frozen shrimp after an administrative review to take place early 2010
The lawyer made the statement at the seminar on the sunset review on antidumping tax on Vietnamese shrimp imported to the U.S. in HCM City November 15.
Pierce stressed that Vietnam has much advantage in proving that economic crisis and challenges faced by the U.S.’s shrimp industry are not contributed by Vietnamese businesses.
“This will be the first review on frozen shrimp and the best opportunity for Vietnam to reach a minimum tax,†Pierce added.
According to the Vietnam Association of Seafood Exporters and Producers (VASEP), the final administrative review on Vietnamese frozen shrimp imported to the U.S. from Feb 1, 2007 to Jan 31, 2008 ended with good results.
Currently, Minh Phu JSC, Camimex and Phuong Nam Co. benefits from an anti-dumping tax rate of 0%.
Almost all of Vietnamese shrimp exporters are subject to a tax rate of 25.76%, while a number of firms bear a rate of 4%-5% and some others enjoy a zero-rate tax.
Vietnam reaped US$1.151 billion from exporting 144,300 tons of shrimp in the first nine months of 2009, down 1.2% in value despite an increase of 6.4% in volume against the same period of last year.
Tags: Vietnam business news, Vietnam export, Vietnam Seafood, Vietnamese Frozen Shrimp
Posted by VBN on Nov 20 2009. Filed under Import-Export, Sea food. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry
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