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Vietnam to
require export licenses:
U.S. textile shipments at high risk
Vietnam’s ministry of trade and industry will impose temporary export license requirements to monitor the quantity and price of various textile exports to the United States, in an attempt to eliminate the threat of anti-dumping lawsuits.
Licensing will assist with the ministry of trade’s goals in managing export growth, establishing export markets, protecting long-term interests of Vietnamese exporters and fighting against illegal transshipments and fraud trading.
Export companies must complete detailed forms on United States shipments. Traders violating laws on exporting apparels such as certificate of origin, documentation, manufacturing capability or quantity could have their export licenses revoked or become prohibited from exporting all apparel to the United States or all countries.
According to the American Chamber of Commerce in Vietnam, as of August 2006, the country was the defendant in 28 antidumping lawsuits, and lost 23, resulting in increased import duty rates.
The export licensing announcement from Vietnam’s ministry of trade coincided with the March 9 release of the U.S. Department of Commerce’s (DOC) statistics on textile and apparel imports from Vietnam.
In January, the DOC began monitoring five product categories of textile products from Vietnam: trousers, shirts, sweaters, underwear and swimwear, concurrent with Vietnam's accession to the World Trade Organization. The monitoring system will expire at the end of the current DOC administration in January 2009.
Every six months, the DOC will evaluate and post the information on its Web site. The DOC said it will self-initiate any anti-dumping duty investigation for the products if the goods are determined to be dumped into the United States market.
To view the DOC’s program on Vietnam textile imports, please visit:
http://ia.ita.doc.gov/download/vietnam-textile-monitoring/vtm-index.html
Regulations regarding imported and exported goods are constantly shifting, and Avalon Risk Management, Inc. commits itself to your industry, and keeps you up to date on any changes. Importing textile shipments is high-risk and Avalon’s bond underwriting department will be paying close attention to Vietnam apparel shipments to ensure these goods are not subject to anti-dumping duty.
Avalon has written more than one million Customs bonds since the company was founded in 1998. Avalon’s Customs surety program is underwritten by our sister company, Lincoln General Insurance Company. Because both Avalon and Lincoln are wholly owned subsidiaries of Kingsway Financial Services, you can be assured of our dedication to your industry.
For further information, please contact Andriana Davis, Product Manager at
Avalon’s corporate headquarters. Andriana Davis can be reached at 847-700-8087 or at
adavis@avalonrisk.com.
Please do not hesitate to contact one of our nine regional
offices throughout the United States
To view a directory of Avalon’s office locations, please
visit our Web site at
www.avalonrisk.com.
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