Vietnam opposes US shrimp anti-subsidy decision

HANOI - The Vietnam Association of Seafood Exporters and Producers (VASEP) has voiced objection to US decision to impose countervailing duties (CVD) on frozen shrimp imported from Vietnam, according to state-run Vietnam News Agency Thursday.

Under the US Department of Commerce (DOC)'s decision issued on August 12, anti-subsidy duties of 7.88 percent will be imposed on products of Vietnamese Minh Quy Seafoods Co. Ltd, 1.15 percent on products of Nha Trang Seaproduct Co. and 4.25 percent on frozen shrimp of other Vietnamese exporters.

DOC's decision is unfair to the Vietnamese shrimp industry in the context that Vietnamese businesses are operating in line with the market mechanism and they have so far not received any subsidy from the State, said VASEP.

According to VASEP, the CVD, together with the anti-dumping duty imposed on Vietnamese shrimp, directly affects the livelihood of over 600,000 farmers, workers and exporters in Vietnam.

At the same time, the decision will also directly impact on US consumers as they will have to pay higher prices for their favourite imported shrimp.

The association noted that the US shrimp industry posted significant growth in both output and price last year, showing that imported shrimp was not able to cause damage or pose any threat to it.

VASEP called on the US International Trade Commission to be impartial and make right and sensible decisions to end the lawsuit once and for all.

The decision to impose the new duties will take effect when it gets approval from the US International Trade Commission and ballots will be cast on Sept 19.