26 May 2011 16:54 [Source: ICIS news]
LONDON (ICIS)--Lowering import duties would be a first step for Europe to reach its EU 2020 goals for the use of renewable raw materials, chemicals trade group Cefic said on Thursday.
“[The] removal of import duties for renewable raw materials forms the heart of a much-needed market-based policy approach,” it said in a policy paper published during the EU’s ‘Green Week’.
“The permanent removal of import duties on ‘renewables’ such as sugars, cereals, and bio-ethanol would give a clear signal to the market that would attract more bio-based investment in Europe,” Cefic director general, Hubert Mandery, said. “This would be the major step to attract investments in the bio-based industry in Europe.”
In its paper, Cefic also argues for a change in farm policy to encourage the production of crops such as beets, the sugar from which can be used in industrial processes, so as to avoid distortions in food supply.
“Tax policy should not create any distortion or conflicts of interests between value chains, as it presently does, keeping back use of renewable feedstock in the chemical industry,” it adds.
Political support is required for the technology base and for demonstration projects that involve different participants in the value chain, Cefic said.
For the latest chemical news, data and analysis that directly impacts your business sign up for a free trial to ICIS news - the breaking online news service for the global chemical industry.
Get the facts and analysis behind the headlines from our market leading weekly magazine: sign up to a free trial to ICIS Chemical Business.
|ICIS news FREE TRIAL|
|Get access to breaking chemical news as it happens.|
|ICIS Global Petrochemical Index (IPEX)|
|ICIS Global Petrochemical Index (IPEX). Download the free tabular data and a chart of the historical index|