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Business News/ Politics / No cash guarantee for shrimp from India: US
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No cash guarantee for shrimp from India: US

Ajayan

No cash guarantee for shrimp from India: US

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Kochi: Following a recent ruling by a World Trade Organization (WTO) appellate body, the US on Wednesday eliminated a bond requirement for shrimp from India and Thailand.

The US Customs and Border Protection has asked shrimp exporters from the two countries to file requests for termination of any existing bonds.

A WTO appellate body had in July 2008 ruled that application of bond requirement for shrimp from India and Thailand was inconsistent with WTO obligations. The continuous bonds were introduced as cash guarantees by US authorities in 2004.

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Published: 01 Apr 2009, 11:48 PM IST
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