CATEGORIES

© Copyright 2004; Hanoitimes - Economic and Urban Newspaper;

The tribune of Hanoi People’s Committee

Publication Permit: 29/GP-CBC

Editor - in - Chief: Nguyen Thanh Loi

Managing Editor: Ta Thu Giang

Email : thugiang@hanoitimes.vn

Head Office: 21 Huynh Thuc Khang Street, Dong Da District, Hanoi

Branch Office: 221 Tran Phu Street, Ha Dong District, Hanoi

WORDS ON THE STREET 70th anniversary of Hanoi's Liberation Day Vietnam - Asia 2023 Smart City Summit Hanoi celebrates 15 years of administrative boundary adjustment 12th Vietnam-France decentrialized cooperation conference 31st Sea Games - Vietnam 2021 Covid-19 Pandemic
Home / Economy / Industry
VASEP asks US to review anti-dumping duty on Vietnamese shrimp
Minh Tam 08:21, 2018/03/10
The Vietnam Association of Seafood Exporters and Producers (VASEP) has recently requested the United States Department of Commerce (DOC) to review its latest anti-dumping duty on shrimp products imported from Vietnam.
The move was made after DOC on the same day announced the preliminary result of the 12th period of review (POR 12). 
Vietnam’s shrimp exports to the US market last year dropped 7 percent against the previous year
Vietnam’s shrimp exports to the US market last year dropped 7 percent against the previous year
Under the preliminary result of the POR12 (from February 1, 2016 to January 31, 2017), the Sao Ta Foods JSC (Fimex), which was the only compulsory respondent in the administrative review, was given a tariff of 25.39 percent. Therefore, the anti-dumping duty margin imposed for Fimex was also applied to the rest Vietnamese shrimp exporters. 
VASEP said on March 8 that the association, along with Fimex and all of its members, believe that the result was issued in error.  
“For multiple years now, Vietnamese exporters have been examined during the administrative review process and none of them have received a dumping margin higher than a single-digit percentage rate,” VASEP said, noting that Fimex was examined in the 9th administrative review and received a rate of zero percent. 
Fimex found that a conversion factor from headless to head-on shrimp had been applied incorrectly.  If the conversion had been applied correctly, the margin would be only 1.19 percent.   
VASEP called on DOC to make timely and fair adjustment for the Fimex and other Vietnamese shrimp exporters. 
According to VASEP, though the preliminary conclusion has yet to take effect, or be applied, and the final conclusion can be different, it can still affect US importers and the shipment volume of Vietnamese shrimp to the country, particularly during the time pending the DOC’s final announcement. 
Vietnam saw a surge in shrimp exports to most markets in 2017, except for the US, which showed a 7 percent reduction to US$659 million, according to VASEP, attributing the drop to the impacts of anti-dumping duty. 
The US is at present the fourth biggest importer of Vietnamese shrimp. It used to be the biggest several years ago.
Besides shrimp, the United States has also restricted imports of pangasius seafood from Vietnam.
The restriction in the United States market has forced Vietnamese seafood exporters to seek new markets.
Hang Van, Deputy Director of Truong Giang Fisheries Joint Stock Company in the southern province of Dong Thap, said that in the past few years, when the US imposed a high anti-dumping duty, many businesses have moved their exports to other markets.
“Notably, in South Asia, Pakistan and India are quite potential markets for Vietnamese pangasius fish,” Van said. “Pakistan currently accounts for about 10 per cent of the company’s exports.”
Song Tien Seafood JSC and Ngoc Xuan Seafood JSC in the southern province of Tien Giang are also seeking ways to export their products to non-US markets, including the EU, China and Middle East.
Nguyen Thi Anh, the head of both businesses mentioned above, said her companies have been accessed a number of new markets, such as the Middle East, South America and China since last year.
“As for the EU market, it has been still the strategic market of businesses for many years, accounting for about 60 – 70 per cent of the total exports,” said Anh. “To keep the stable volume of customers in this market, the company has focused on investment, ensuring product quality from raw materials to processing.”
Therefore, although the company does not export seafood to the US, its export turnover is stable and growing, Anh added.
Comments
Other news
15:17, 2024/11/04
Hiring multitaskers: Priority for Hanoi companies
Several sectors experience increased hiring demand in the remaining months of 2024
18:17, 2024/11/03
Hanoi seeks partnerships to build skilled workforce for digital transformation
Vocational training institutions play important roles in developing a quality workforce prepared for large companies.
18:35, 2024/10/30
Hanoi to host Vietnam-Asia Smart City Summit 2024
The summit aims to share best practices and promote cooperation among Vietnam's provinces and cities in building and developing smart cities.
15:53, 2024/10/29
Vietnamese spend $8.9 billion on ecommerce
The total transaction volume in the Jan-Sep period increased by 37.7% compared to the same period last year.
14:48, 2024/10/29
Hanoi steps up inspections to crack down on unsafe food
The purpose of the survey is to gain a thorough understanding of the local food safety situation and to identify non-compliance promptly, allowing for corrective actions to be taken to mitigate health risks.
22:24, 2024/10/23
SEMIEXPO Vietnam 2024 to foster growth of semiconductor industry
The exhibition aims to develop the ancillary industry ecosystem and attract investment from the world's leading semiconductor companies.