Chinese tariff cuts save Norway £6.5m
NORWAY’S seafood exporters hope to save at least 70 million kroners (£6.5 million) following China’s decision to introduce large reductions in tariffs on salmon and other fish.
The Oslo government has welcomed the decision, which came into effect on July 1, and said in a press release that the tariff reductions will affect more than 250 different types of seafood.
The tariffs drop by more than 50 per cent from an average rate of 15.7 per cent to 6.9 per cent, and are also thought to apply to other types of food as well as household goods and cosmetics.
This is China’s fifth round of tariff cuts in the past three years.
Fisheries minister Per Sandberg said: ‘Last year we exported seafood worth well over three billion kroner to China.
‘If we take last year’s exports as a starting point, this means an annual tariff reduction of more than 70 million kroners.
‘China is clearly opening up to more international trade. These are positive moves from what is clearly a large and very important market.
‘It also means China will import more raw materials for further processing at home, which will provide their consumers with better access to goods. Lower tariffs are good news for the seafood industry.’
The minister said the move was a firm signal that China wanted to increase trade with the outside world.
Norway’s salmon farmers now see China as their most important export market following a thawing in political relations between the two countries two years ago.
Picture: Norwegian fisheries minister Per Sandberg