19 February 2007 11:38 [Source: ICIS news]
BRUSSELS (ICIS news)--Non-tariff barriers (NTBs) cost European chemical producers upto $379m (€289m) a year in lost business opportunities in China, according to a report published by the European Commission (EC) on Monday.
But NTBs continue to hinder the EU-China chemicals trade, in particular
Despite these problems, there are plenty of opportunities for European chemical companies to influence the Chinese market, says the report.
European companies still lead the field in the manufacturing of petrochemicals such as propionic acid and acrylic esters and Chinese oil companies are likely to continue to seek foreign partners.
The EU chemicals industry would likewise gain a competitive edge if the Chinese authorities were to enforce stricter environmental standards.
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