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Prospect for Vietnamese Tra fish exporters

VOV) - The US Department of Commerce (DOC)’s decision to reduce anti-dumping taxes on several Vietnamese businesses to zero percent will enable them to increase their export volumes.
 The decision is considered a positive result from the tireless efforts of the Vietnam Association of Seafood Exporters and Producers (VASEP) as well as exporters in achieving deeper US market penetration.

The Vinh Hoan Joint Stock Company in southern Dong Thap province- a leading Vietnamese Tra fish processor and exporter - is one of the two companies enjoying an anti-dumping tax of zero percent instead of the previous highest rate of 130 percent.

Accordingly, the DOC still imposes a tax of US$ 0-0.02 per kilo on Tra fish exporters instead of US$4.22 for Tra fish batches exported to the US from August 1, 2008 to July 31, 2009.

The Deputy Head of the Business Section of the Vinh Hoan Joint Stock Company, Truong Tuyet Hoa, said 40 percent of her company’s products are exported to the US market with an annual export turnover of US$50 million.

The DOC’s move will create favourable conditions for Vinh Long to boost Tra fish exports to the potential market. So far, Vietnamese businesses have already achieved two thirds of their roadmap for settling the anti-dumping lawsuit, Hoa noted.

Apart from Vinh Hoan, the Vinh Quang Joint Stock Company and the Cuu Long An Giang Fish Export-Import Joint Stock Company (CL FISH) receive the same anti-dumping tax relief.

VASEP Deputy General Secretary Nguyen Hoai Nam put this final result from the sixth anti-dumping duty administrative review (POR6) on tra fish down to the fact that the DOC had chosen Bangladesh, which shares many similarities with Vietnam in breeding standards and input costs, as a third country instead of the Philippines to decide anti-dumping tariffs on Vietnamese tra fish.

 “This year, Vietnam’s seafood exports to the US will see promising signs of picking up. I hope that the final result from the sixth anti-dumping duty administrative review (POR6) on tra fish will give fresh impetus to boosting Tra fish exports in the following years.” Nam said.

According VASEP, last year, Vietnam earned US$176 million from exporting nearly 56,000 tonnes of Tra fish to the US, accounting for nearly 11 percent of its total output to the world market and more than 14 percent of its total export value.

In the long run, anti-dumping tax deductions will have a positive impact on Vietnam’s Tra fish breeding, processing and exports.

This year, Mekong Delta provinces plan to raise 6,300 ha of Tra fish with an estimated output of 1.2 million tonnes. If Tra fish exports to the potential markets such as the US, EU, Mexico and China go smoothly, Vietnam’s output growth will be likely above the 2010 level of 7.4 percent.

SOURCE: VOVNEWS

 
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