The Philippine Government May Resume Zero Tariff Policy on Imported Wheat and Ce
[2010-01-25 17:05:39]
According to the Philippines "Business World" on January 18, the Philippine Trade and Industry Deputy Minister Aquino said that in order to stabilize the market prices of wheat and cement, Department of Trade and Industry will propose to the President to resume the zero tariff policy on imports of wheat and cement on the January 19.
Half a year ago, the Philippine Office of the President issued Executive Order No. 818 to implement zero tariff policy on wheat and cement imports. The policy is expired on January 12 this year. Thus the import tax rate resumed to 3% for Southeast Asian countries, and 5% for other regions.
After the zero-tariff was canceled, flour and cement manufacturers have announced price increases. The Philippine government had planned to implement price controls, but the Department of Trade and Industry believes that the price control policy is undesirable, hence tend to resume the zero tariff policy.
Half a year ago, the Philippine Office of the President issued Executive Order No. 818 to implement zero tariff policy on wheat and cement imports. The policy is expired on January 12 this year. Thus the import tax rate resumed to 3% for Southeast Asian countries, and 5% for other regions.
After the zero-tariff was canceled, flour and cement manufacturers have announced price increases. The Philippine government had planned to implement price controls, but the Department of Trade and Industry believes that the price control policy is undesirable, hence tend to resume the zero tariff policy.
Source: ETCN
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