Norwegian seafood producers who export to China could have an annual tariff reduction of more than NOK 70 million according to the government.
“Last year we exported seafood for well over 3 billion kroner to China.
If we take last year’s exports as a starting point, this will mean a tariff reduction of more than NOK 70 million annually,” said Per Sandberg,Minister of Fisheries for Fremskrittsparti (Frp).
The duty reduction will come into force on the 1st of July. The adjustment covers more than 250 seafood products and is due to China’s ongoing efforts to open up trade.
While the tax rate on frozen mackerel, for example, is reduced from 10 to 7%, the rate for whitefish such as pollock, haddock and hake, is lowered from 12 to 7%. Customs tariffs are also to be lowered for processed products.
‘’China will import more raw materials for further processing in China and provide consumers with better access to goods. Lower duties are good news for the seafood industry,’’ said Sandberg.
© NTB scanpix / #Norway Today