February 22, 2007

US to take second review on shrimp tax on Vietnam

The United States of America will take a second review on the anti-dumping tax imposed on Vietnam shrimp products before it releases the decision on the lawsuit filed by the US against Vietnam seafood exports.

Truong Dinh Hoe, Deputy Secretary General of Vietnam Association of Seafood Exporters and Producers (VASEP), said the administration review will be commenced by the Southern Shrimp Association (SSA) which will evaluate export products and its results will be published by the US Department of Commerce (DOC) on the US Federal official gazette. The DOC announces its conclusion after 18 months.

Hoe thinks that the second administration review over the tax rate on Vietnam shrimps will be carried out after Tet holiday (the Lunar New Year 2007). The review has also prompted Vietnamese seafood enterprises to prepare necessary documents including figures and other records to be shown if required by authorities.

In 2006, shrimp remained the key seafood export item for Vietnam, which accounted for 44 percent or US$3.6 billion of the total export turnover. The US, which was once the biggest export market for Vietnam, fell third among the biggest export markets, after Japan and the EU.

The latest anti-dumping tax rates being imposed on Vietnamese enterprises are 4.3 percent on Seaprodex Minh Hai, 4.38 percent on Minh Phu, 5.24 percent on Camimex, 25.76 percent on Kim Anh, 4.57 percent on voluntary defendants and 25.76 percent on other enterprises.