Vietnam and US reach agreement on 'billion-dollar fish' anti-dumping tax dispute

After many years, Vietnam and the US have reached an agreement in the dispute settlement case regarding anti-dumping tax on tra and basa fish at the World Trade Organization (WTO).

Information from the Ministry of Industry and Trade, on January 17, in Washington (USA), this Ministry was authorized by the Government to sign a bilateral agreement between the US Government and the Vietnamese Government on the order to impose anti-dumping tax on fish fillets from Vietnam.

The organization that signed the agreement on behalf of the US Government is the Office of the United States Trade Representative (USTR).

Thus, the two sides have reached a bilateral solution to end the dispute issues in the DS536 case at the WTO.

According to this agreement, Vinh Hoan Corporation - the only enterprise eligible for tax removal under US regulations and also the leading exporter of tra and basa fish in Vietnam - has been removed from the scope of anti-dumping tax when exporting "billion-dollar fish" to the US market.

The US is Vietnam's main export market for pangasius. Photo: Hoang Giam

This is the second time Vietnam and the US have reached a bilateral agreement to resolve a dispute at the WTO, following the case of anti-dumping tax on warm-water shrimp products (DS429).

In 2016, Vietnam and the US signed a bilateral agreement to remove anti-dumping tax on warm-water shrimp products exported to this market by Minh Phu Seafood Corporation.

The bilateral solution reached by Vietnam and the US to resolve the tra and basa fish lawsuit is the result of goodwill and negotiation efforts from both sides.

Vietnam welcomes the constructive spirit, goodwill and efforts to seek bilateral solutions from the US side, especially the US Department of Commerce and USTR.

At the same time, the US's enforcement of the WTO ruling also contributes significantly to demonstrating goodwill in strengthening the multifaceted relationship between Vietnam and the US, especially in the context of the two countries upgrading their Comprehensive Strategic Partnership.

For Vietnam, this is the result of close, persistent and active coordination over many years between the Government, consulting lawyers and seafood businesses.

This bilateral solution shows that the Government is always ready to use appropriate forums, including the WTO dispute settlement mechanism, to ensure the legitimate rights and interests of Vietnamese enterprises in the context of Vietnam's increasingly deep integration into the international economy.

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