Vietnam, US Sign Agreement on Shrimp to Settle WTO Disputes
The Ministry of Industry and Trade of Vietnam signed an agreement with the United States Department of Commerce (DOC) and the United States Trade Representative (USTR) on anti-dumping duties on imported Vietnamese shrimp in Washington, the US. Accordingly, the two sides reached a bilateral solution to resolve two disputes at the World Trade Organisation (WTO) brought by Vietnam, namely United States - anti-dumping measures on certain shrimp from Vietnam (DS404) and United States - anti-dumping measures on certain shrimp from Vietnam (DS429).
Previously, on May 20, 2016, at the request of Vietnam, DOC had reviewed prior administrative determinations to bring those decisions into compliance with the WTO dispute findings. As a result, Minh Phu Seafood Corporation - a leading Vietnamese exporter of frozen warmwater shrimp - will no longer be subject to the antidumping duty order. According to the DOC preliminary conclusion, Minh Phu Seafood Corporation’s dumping margin is 0 per cent, meaning that the firm does not dump its shrimp into the US. Besides, DOC proposed lifting anti-dumping duty order on shrimp of Minh Phu Seafood Corporation as the firm had satisfied requirements for lifting duties applicable to every single company. According to the latest conclusion from DOC, Minh Phu Seafood achieved the dumping margin of 0 per cent (or at negligible rate) in three consecutive administrative reviews.
Certain domestic litigation will also be resolved and duty deposits will be refunded to Minh Phu, which is estimated at several million U.S. dollars.
H.Ly
Vietnamese
