Turkey to impose safeguard duty on PET imports for three years

Turkey is to impose 5% safeguard duty on import of PET (Polyethylene Terephthalate) originating from all countries for a period of three years, which is extendable for another three years. However, this duty will specifically wipe out the market access for Pakistani exporters, since a major chunk of Turkey’s total imports of PET is from Pakistan, as per Dawn. Turkey has decided to raise customs duty from 3% to 8% to protect local producers. Domestic production in Turkey of PET resin stood at 150,000 tons, while it imports 160,000 tons.
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