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Allocation of Duty-Exemptions for Calendar Year 2004 Among Watch Producers Located in the Virgin Islands

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Import Administration, International Trade Administration, Department of Commerce; Office of Insular Affairs, Department of the Interior.




This action allocates calendar year 2004 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”).

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Faye Robinson, (202) 482-3526.

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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 Section 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 2004 is 1,866,000 units for the Virgin Islands (65 F.R. 8048, February 17, 2000).

The criteria for the calculation of the calendar year 2004 duty-exemption allocations among insular producers are set forth in Section 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 Section 303.5 of the regulations (15 CFR 303.5).

In calendar year 2003 the Virgin Islands watch assembly firms shipped 413,389 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 2003 plus the creditable wages paid by the industry during calendar year 2003 to residents of the territory was $4,537,621.

There are no producers in Guam, American Samoa or the Northern Mariana Islands.

The calendar year 2004 Virgin Islands annual allocations, based on the data verified by the Departments, are as follows:

Name of firmAnnual allocation
Belair Quartz, Inc.500,000
Hampden Watch Co., Inc.200,000
Goldex Inc.50,000
Tropex, Inc.300,000

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.

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James J. Jochum,

Assistant Secretary for Import Administration, Department of Commerce.

David B. Cohen,

Deputy Assistant Secretary for Insular Affairs, Department of the Interior.

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[FR Doc. 04-4734 Filed 3-2-04; 8:45 am]

BILLING CODE 3510-DS-P; 4310-93-P