07 September 2012 00:23 [Source: ICIS news]
CAMPINAS, Brazil (ICIS)--Plans to raise Brazil’s import taxes on a number of petrochemical products will benefit the nation’s chemical industry, chemical industry association Abiquim said on Thursday.
The trade group 19 of the 100 planned import tariff increases were made at the request of Abiquim associates.
Abiquim foreign trade director Denise Naranjo said the increases are aimed at stopping indirect chemical imports, which occurs when a local company uses an intermediary to buy products from another country.
"This important measure has the aim of protecting the nation's industry”, said Naranjo.
“The country’s industry has been seriously affected by the competition of imported products, which has been generating serious commercial unbalances”, she said.
The Brazilian Plastic Industry Trade Association (Abiplast) blasted the new tariffs as a “hard slap” to plastics processors.
Several other trade groups had asked Brazil’s Chamber of Foreign Trade (Camex) to increase import tariffs.
The increased tariffs would apply to white mineral oils, n-butanol, ethylene glycol (EG), diethylene glycol (DEG), maleic anhydride (MA), polyethylene (PE), polymethyl methacrylate (PMMA), epoxy resins, polycarbonate (PC) and polybutadiene, among others.
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