Update on Turkey’s custom duties for 2015
by ChemOrbis Editorial Team - content@chemorbis.com
In Turkey, in accordance with the Cabinet decision regarding the import regime published on the Official Gazette dated December 31, 2014, several updates have been made on customs duties as was expected. According to the aforementioned decision, which is effective as of January 1, 2015, within the scope of the free trade agreement signed with South Korea, customs duties for homo-PP, PVC and LDPE imported from this country have been reduced to 3.2% from 4.3%.
In line with the regulation made by the European Union (EU), China, Ecuador, the Maldives and Thailand were removed from the category of developing countries and included in the category of other countries. The custom duties for materials imported to Turkey from these countries has been increased to 6.5%.
The recent adjustment will mostly affect Thailand as China already has a special trade status under which the materials imported from this country have been subject to a customs duty of 6.5% for several years. According to ChemOrbis Import Statistics, in the first eleven months of 2014, Turkey imported 35,000 tons of polymers from Thailand, representing a decrease of 48% compared with the same period of 2013. HDPE comprised 43% of overall imports from this country while PS made up 31%.
In line with the regulation made by the European Union (EU), China, Ecuador, the Maldives and Thailand were removed from the category of developing countries and included in the category of other countries. The custom duties for materials imported to Turkey from these countries has been increased to 6.5%.
The recent adjustment will mostly affect Thailand as China already has a special trade status under which the materials imported from this country have been subject to a customs duty of 6.5% for several years. According to ChemOrbis Import Statistics, in the first eleven months of 2014, Turkey imported 35,000 tons of polymers from Thailand, representing a decrease of 48% compared with the same period of 2013. HDPE comprised 43% of overall imports from this country while PS made up 31%.
More free plastics news
Plastic resin (PP, LDPE, LLDPE ,HDPE, PVC, GPS; HIPS, PET, ABS) prices, polymer market trends, and more...- Upsurge continues to wreak havoc on Turkey’s PP, PE markets
- PVC rally roars back in Asia as supply worries mount
- China PP, PE markets join global rally after Lunar New Year holiday
- PE, PP and PVC supply crunch exacerbated on US absence, traditional trade flows upended
- European PP, PE markets set for 5th bullish month as shortage bites
- Turkey shattered as PP prices shoot up to surreal levels
- Polymer markets face one of most chaotic times
- Turnaround season set to get underway in Asia
- Crude oil heals COVID-inflicted wounds; now what lies ahead?
- Global shipping turmoil deepens, adding to the upheaval in plastic resins
