The European Union imposed new duties on plastics from Iran, Pakistan and the United Arab Emirates on Wednesday, saying the three were illegally subsidising exports to Europe's growing soft-drinks market, as per Reuters. As a result, Polyethylene terephthalate from Iran, Pakistan and the UAE will face EU import duties of €139.70 (US$188.1), €44.02 and €42.34 per ton respectively until 2015.
The duties are valid for up to five years and reflect Europe's concern that EU industry is falling behind oil-rich states with competitive and booming plastics markets.
30-Sep-10 
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