It will have negative impacts on Vietnam’s fish exports to the US, the ministry said.
The ministry has been closely working with the Vietnam Association of Seafood Exporters and Producers (VASEP) and local pangasius exporters to exchange information and give the US authorities feedback on the issue.
Throughout the review process, Vietnamese producers have put many efforts to provide the DOC with accurate information but the DOC decided to use adverse facts available (AFA) to determine the final tax rates. The DOC has changed its reviewing practices when applying AFA on many Vietnamese businesses, the ministry stressed.
Thereby, the MoIT requested the US to review the decision and reduce the tax rates on Vietnam’s exporters in compliance with WTO regulations and with fairness for all related parties.
The ministry will continue coordinating with VASEP and relevant governmental agencies to study all options in ensuring legitimate rights of Vietnamese companies.
According to a report of the Directorate of Fisheries of Vietnam, the country’s tra fish output hit 1.2 million tonnes in 2017, a year-on-year rise of 5.1 percent. In the year, export turnover of this kind of fish reached 1.78 billion USD, up 4.3 percent against that of the previous year, accounting for 21 percent of the fishery industry’s total export value.
The export turnover of tra fish is expected to reach 2 – 2.2 billion USD in 2018, making up 31.5 percent of the fishery industry’s total export value.