US, VN to resolve disputes over anti-dumping duties
US, VN to resolve disputes over anti-dumping duties
The United States (US) and Viet Nam signed an agreement on Monday (US time) to resolve disputes over American anti-dumping duties on Vietnamese shrimp, Viet Nam News Agency reported.
Accordingly, the two countries agreed on a framework to resolve two World Trade Organisation (WTO) disputes, DS404 and DS492, in which Viet Nam objected to American anti-dumping measures against Vietnamese shrimp.
As a result, Minh Phu Seafood Corporation, the largest shrimp exporter of Viet Nam, will no longer be subjected to anti-dumping duties while exporting shrimp to the US.
Under the US Department of Commerce's decision, Minh Phu Seafood Corporation's dumping margin was found to be zero or not significant in three consecutive administrative reviews.
Minh Phu Seafood Corporation would be refunded part of the anti-dumping duties the company had deposited in previous years, estimated to be worth millions of dollars, the Viet Nam News Agency said.
However, the anti-dumping duty order will remain in place for all other Vietnamese warm water shrimp exporters.
The agreement demonstrates the two countries' goodwill and efforts to address outstanding issues and promote bilateral ties to a higher level, especially when the Trans-Pacific Partnership has been signed and is expected to soon come into force.
According to the Viet Nam Seafood Exporters and Processors, Viet Nam exported shrimp worth US$249.3 million to the US in the first five months of this year, rising 17.4 per cent year-on-year.
