Malaysia responds to US countervailing duty on shrimp
The Malaysian Ministry of Agriculture and Agro-based Industries has
called on all exporters to comply with international trade procedures
and regulations following the US’ decision to impose countervailing
duty on frozen prawns from Malaysia.
The Malaysian Ministry of Agriculture and Agro-based Industries has
called on all exporters to comply with international trade procedures
and regulations following the US’ decision to impose countervailing
duty on frozen prawns from Malaysia.
Under the duty structure, Asia Aquaculture (M) Sdn Bhn has to pay a tax rate of 10.8 percent while others are charged 54.5 percent.
The ministry also asked these companies to cooperate in every aspect of investigations conducted by foreign authorities.
The ministry said the US’ decision to levy a high tax rate is because the selected Malaysian companies have refused to cooperate in investigations by the US Department of Commerce and the US International Trade Commission.
To deal with this issue, the ministry and the International Trade and Industry Ministry have established an action committee since the investigations started to help involved companies.
Together with Malaysia, the US department also imposed duties on shrimp imports from Vietnam (7.9 percent), China (18.2 percent), India (11.1 percent) and Ecuador (13.5 percent).
According to statistics, these five nations exported 208,000 tonnes of frozen shrimp, worth 1.7 billion USD, to the US last year.
The decision to impose the new duties will only take effect when it gets approval from the US International Trade Commission (ITC) and ballots will be cast on September 19.
Following petitions from US shrimp producers and the Coalition of Gulf Shrimp Industries, the DoC investigated shrimp countervailing from the five countries, along with major suppliers Thailand and Indonesia. However, the latter two have not been hit by import duties.-VNA
Under the duty structure, Asia Aquaculture (M) Sdn Bhn has to pay a tax rate of 10.8 percent while others are charged 54.5 percent.
The ministry also asked these companies to cooperate in every aspect of investigations conducted by foreign authorities.
The ministry said the US’ decision to levy a high tax rate is because the selected Malaysian companies have refused to cooperate in investigations by the US Department of Commerce and the US International Trade Commission.
To deal with this issue, the ministry and the International Trade and Industry Ministry have established an action committee since the investigations started to help involved companies.
Together with Malaysia, the US department also imposed duties on shrimp imports from Vietnam (7.9 percent), China (18.2 percent), India (11.1 percent) and Ecuador (13.5 percent).
According to statistics, these five nations exported 208,000 tonnes of frozen shrimp, worth 1.7 billion USD, to the US last year.
The decision to impose the new duties will only take effect when it gets approval from the US International Trade Commission (ITC) and ballots will be cast on September 19.
Following petitions from US shrimp producers and the Coalition of Gulf Shrimp Industries, the DoC investigated shrimp countervailing from the five countries, along with major suppliers Thailand and Indonesia. However, the latter two have not been hit by import duties.-VNA
You should also see
Vuong Dinh Hue permitted to cease holding positions, working
The 13th Party Central Committee on April 26 agreed to let Vuong Dinh Hue cease holding the positions of Politburo member, member of the 13th Party Central Committee, and Chairman of the 15th National Assembly (NA) in the 2021 - 2026 tenure.
See more
World
Indonesia’s coffee exports surpass imports
Indonesia’s coffee exports have surpassed imports for 47 consecutive months since May 2020, the Central Statistics Agency (BPS) has reported.
World
Thailand expects wave of tourists during Golden Week
The Tourism Authority of Thailand (TAT) estimates that about 996,000 foreign tourists will visit the Southeast Asian country between April 26 and May 5, known as the Golden Week holidays in Japan, during which Chinese tourists also prefer to travel overseas.
World
Argentinian media praises Dien Bien Phu Victory
Argentinian newspapers have called Vietnam's Dien Bien Phu Victory (May 7, 1954) a symbol of the national liberation movement of oppressed and colonialised peoples worldwide.
World
Laos speeds up granting licences to foreign workers
Laos's Ministry of Labour and Social Welfare plans to issue visas to illegal foreign workers and extend permits to legal ones so that they can continue to work in the country.
World
Argentinian scholar praises Vietnam’s April 30, 1975 victory
The complete reunification of Vietnam on April 30, 1975 was an extremely significant event in the history of the country and the world, opined a scholar from the Institute for International Relations at the National University of La Plata, Argentina.
