19 November 2013 21:05 [Source: ICIS news]
CARTAGENA, Colombia (ICIS)--Colombia’s polyethylene terephthalate (PET) demand growth is projected at 8-10% for 2014, an industry participant said on Tuesday.
Healthy PET growth is expected despite challenges facing the industry, the Colombian source said on the sidelines of the Latin American Petrochemical Association (APLA) annual meeting.
A major challenge is the import-duty structure in Colombia, according to the source.
A 10% duty is applied to PET resin imported into Colombia, placing pre-form makers in the country at a disadvantage against pre-forms from Ecuador and Colombia, which enjoy a duty advantage into Colombia.
PET imported into Ecuador and Peru has zero duty, and in turn, PET bottle pre-forms entering Colombia from Ecuador and Peru have zero duties in Colombia on Andean pact free trade agreements.
The APLA conference ended on Tuesday.
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