ISLAMABAD: Under Closer Economic Partnership Agreement (MPCEPA) signed between Pakistan and Malaysia in November, 2007, Pakistan has reduced the tariffs on seven (7) palm products by 10% Margin of Preference (MoP) with effect from on January 1, 2008, giving a further boost to Palm oil import by Pakistan which is expected to increase by 33% higher in the year 2008 compared 2007.
According to the Commercial Counselor of High Commission for Pakistan in Malaysia, Mr. Majid Qureshi, the tariff will further be reduced by 5% MoP, starting from January 1, 2010, making Malaysia as the first choice for Pakistan to import Palm oil and its products compare to its closest competitors. . The palm oil export to Pakistan by Malaysia has registered 10.4% increase in the year 2007 compared to 2006. In 2007, total export to Pakistan was 10,70,067 tones compared to the year 2006 at 9,68,406 tones.
For more on this article, please click on the following link: Pakistan Reduces tariffs on Palm Oil import from Malaysia: Online News
Saturday, June 14, 2008
Pakistan Reduces tariffs on Palm Oil import from Malaysia: Online News
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