Import Administration, International Trade Administration, Department of Commerce; Office of Insular Affairs, Department of the Interior.
This action allocates calendar year 2002 duty-exemptions for watch producers located in the Virgin Islands pursuant to Pub. L. 97-446, as amended by Pub. L. 103-465 (“the Act”).Start Further Info
FOR FURTHER INFORMATION CONTACT:
Faye Robinson, (202) 482-3526.End Further Info End Preamble Start Supplemental Information
Pursuant to the Act, the Departments of the Interior and Commerce (the Departments) share responsibility for the allocation of duty exemptions among watch assembly firms in the United States insular possessions and the Northern Mariana Islands. In accordance with §303.3(a) of the regulations (15 CFR 303.3(a)), the total quantity of duty-free insular watches and watch movements for calendar year 2002 is 1,866,000 units for the Virgin Islands (65 FR 8048, February 17, 2000).
The criteria for the calculation of the calendar year 2002 duty-exemption allocations among insular producers are set forth in §303.14 of the regulations (15 CFR 303.14).
The Departments have verified and adjusted the data submitted on application form ITA-334P by Virgin Islands producers and inspected their current operations in accordance with § 303.5 of the regulations (15 CFR 303.5).
In calendar year 2001 the Virgin Islands watch assembly firms shipped 508,506 watches and watch movements into the customs territory of the United States under the Act. The dollar amount of creditable corporate income taxes paid by Virgin Islands producers during calendar year 2001 plus the creditable wages paid by the industry during calendar year 2001 to residents of the territory was $3,058,590.
There are no producers in Guam, American Samoa or the Northern Mariana Islands.
The calendar year 2002 Virgin Islands annual allocations, based on the data verified by the Departments, are as follows:
|Name of firm||Annual allocation|
|Belair Quartz, Inc||500,000|
|Hampden Watch Co., Inc||200,000|
|Unitime Industries, Inc||400,000|
The balance of the units allocated to the Virgin Islands is available for new entrants into the program or producers who request a supplement to their allocation.Start Signature
Assistant Secretary for Import Administration, Department of Commerce.
Acting Director, Office of Insular Affairs, Department of the Interior.
[FR Doc. 02-5210 Filed 3-4-02; 8:45 am]
BILLING CODE 3510-DS-P; 4310-93-P