June 14, 2005

Thai government supports shrimp industry
 

Thailand has taken recovery measures amid poor Thai shrimp exports and industry calls for government support.

Two state-owned banks and the domestic banking industry have been requested to provide guarantees for exporters to the key US market that had placed anti-dumping tariffs on Thai shrimps.

Thai trade officials have also been ordered to speed up negotiations and resumption of EU preferential tariffs for Thai shrimp exports to the EU. Under the preferential rates, Thai shrimps would receive import duties of 4.5 percent, compared with the current 12 percent. 

In addition, the government would launch a scheme to buy shrimps at guaranteed prices.