Vietnam files shrimp lawsuit to WTO panel

Workers process shrimps at a factory in Vietnam (Vietnam News Agency file photo)

Vietnam submitted its lawsuit documents against the US imposition of anti-dumping tariffs on its frozen shrimp to the World Trade Organisation (WTO) panel in Geneva, Switzerland, on August 20.

The move was the first step in the panel’s settlement process. Three panel members that were appointed by WTO Director General Pascal Lamy in late July will start consider the lawsuit and be responsible for assisting the WTO Dispute Settlement Body (DSB) in making rulings or recommendations.

After six months, the panel will give its final conclusions to concerned parties and three weeks later it will inform all WTO member countries about the result.

When recognizing any violation of WTO regulations, the panel will put forth recommendations. If the DSB agrees, the panel’s final conclusions will become the DSB’s rulings or recommendations.

Vietnam and the US held consultations in March 2010 but failed to reach any consensus for the controversial issues.

Source: Vietnam News Agency

Other news

Most view

Banking-finance

VNPT & SeABank cooperate to enhance connections

The Vietnam Posts and Telecommunications Group (VNPT) and SeABank just co-signed cooperation agreement, aiming to develop the two sides’ economic, business and investment potential.


Economy

Vocarimex plans to expand export markets

The Vietnam Vegetable Oil Industry Corporation -Vocarimex (code: VOC) has set its target the 2018 revenue will reach VND 4,8trillion, an increasing of 9 percent compared to 2017 and pre-tax profit target will be VND 300 billlion ($ 13 million), dividend payment ratio at 12 percent.

 

Self - introduction

VNPT targets to be leading digital service provider in Vietnam

The grand opening ceremony of the VNPT-Information Technology Company (VNPT-IT), a new member of the Vietnam Posts and Telecommunications Group (VNPT), was held yesterday in Hanoi. With thousands of IT engineers and the focus on developing state-of-the-art technological products related to Artificial Intelligence (AI), Bigdata, and Blockchain, the new company is considered the main force to help VNPT fulfill the goal of becoming a leading digital service provider in Vietnam and an important Digital Hub of the neighborhood as well as the world.

Stock market

BLF & LUT fined VND 145mln

The State Securities Commission of Vietnam (SSC) has just issued administrative fines worth VND 145 million to Bac Lieu Seafood Corp (BLF) and Luong Tai Investment & Construction Corp (LUT).