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Allocation of Duty-Exemptions for Calendar Year 2005 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 2005 duty exemptions for watch producers located in the Virgin Islands pursuant to Public Law 97-446, as amended by Public Law 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 FR 8048, February 17, 2000).

The criteria for the calculation of the calendar year 2005 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 2004 the Virgin Islands watch assembly firms shipped 319,624 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 2004 plus the creditable wages paid by the industry during calendar year 2004 to residents of the territory was $2,041,956.

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

The calendar year 2005 Virgin Islands annual allocations, based on the data verified by the Departments, are as follows:

Name of firmAnnual allocation
Belair Quartz, Inc500,000
Hampden Watch Co., Inc200,000
Goldex Inc50,000
Tropex, Inc300,000

The balance of the units allocated to the Virgin Islands is available for new entrants into the program or producers Start Printed Page 10605who request a supplement to their allocation.

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Joseph A. Spetrini,

Acting Assistant Secretary for Import Administration, Department of Commerce.

Nikolao Pula,

Acting Deputy Assistant Secretary for Insular Affairs; Department of the Interior.

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[FR Doc. 05-4169 Filed 3-3-05; 8:45 am]

BILLING CODE 3510-DS-P; 4910-93-P