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Philippino processors seek end of resin tariffs for non-ASEAN imports

Article-Philippino processors seek end of resin tariffs for non-ASEAN imports

Plastic processors in the Philippines have asked that country's tariff commission to remove a 15% levy on resins imported from outside the ASEAN region in a bid to bolster local supplies and eliminate any price distortion between finished goods made in country and those produced in other ASEAN countries.

According to a report in the Manila Bulletin, the Philippine Plastics Industry Assn. (PPIA) submitted a position paper to the Philippines tariff commission stating that the removal of the 15% most-favored-nation tariff on imports from non-ASEAN nations would resolve the tariff distortion between ASEAN finished plastic goods and materials brought in from outside ASEAN. The PPIA also said they fear losing their domestic plastic products market to cheaper producers in ASEAN following the zero tariff privilege if they cannot get zero tariff for their raw materials. Earlier in January, the government eliminated the tariff on resins from ASEAN countries. Indonesia, Philippines, Vietnam, Cambodia, and Brunei operate under a series of Trade and Investment Framework Agreements (TIFA). Philippines neighbors, Malaysia and Indonesia, have used their natural gas and petroleum resources to develop petrochemical industries, creating a source of local supply. In spite of this, Malaysia remains a net importer of resin. The Philippines has oil production of 25,120 bbl/day, while consuming 320,000 bbl/day, with natural gas production of 2.94 billion m3[email protected]

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