SEAI to `sea` US customs` in international court.

1-4 September, 2006 Pragati Maidan, New Delhi, India

SEAI to `sea` US customs` in international court.

The seafood Exporters Association of India (SEAI) has decided to appeal against the US custom insisting for a ‘custom bond’. The association plans to appeal to the court of international trade, New York. For the time being the association is waiting for the International Trading Commission (ITC) to issue its final order on the ant dumping duty of shrimps.

Following, the determination of the anti dumping duty, all Indian exporters will require to register themselves a s ‘importers in record’. The exporters will be expected to deliver goods on a duty paid basis. The US custom demands that all imports by “importer on record’ companies provide a ‘custom bond’ for the full value of duty on the year’s estimate of import by the company.

All inidan shrimp exporters will have to provide bonds ranging from $0.5 million to $5 Million per year. These bonds are only valid till one year. This means that the companies will face two- three bonds in the same year.

AJ Tharakan, President, SEAI said that the association I hopeful that ITC will rule that there is no injury or potential injury to the US with imported goods. Even if the ITC rules in the favour of the petitioner, the association will make a final appeal to the court of international trade.

Date: 28-Dec-2004

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