Vietnam ready to fight possible U.S. antidumping lawsuit
HANOI - Vietnam says it's ready to fight a potential antidumping lawsuit expected to be filed this week by a U.S. shrimp industry group, state-controlled media reported today.
The U.S. Southern Shrimp Alliance, which represents fishermen, processors and distributors in eight southern U.S. states, has threatened to sue several major shrimp-exporting countries in South America and Southeast Asia for allegedly dumping their products on the U.S. market at below cost.
The Vietnam Association of Seafood Exporters and Producers estimates it will cost about US$1.2 million to US$1.5 million to fight the case, the Tien Phong newspaper quoted the association's general secretary, Nguyen Huu Dung, as saying.
The Vietnamese association and its members have been working with U.S. law firms in anticipation of the lawsuit, and members have raised US$70,000 so far, Dung said.
They expect the suit to be filed Tuesday, he added.
Vietnam's catfish farmers lost a similar suit earlier this year, when the U.S. International Trade Commission ruled that the communist country dumped catfish on the U.S. market, resulting in import tariffs of up to 60 percent.
Unlike catfish, which Vietnam could export to other countries after losing the case, it would be difficult to find other markets for its shrimp, Dung said.
Vietnam exported US$467 million worth of shrimp to the United States last year.
The Asociated Press - December 29, 2003.
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