The Ministry of Economy and Finance (MoEF) will scrap customs fees for rice
exporters from May 1 in an effort to reduce production costs and boost
Cambodia’s competitiveness in the sector.
The ministry has agreed to eliminate charges relating to customs
processing fees for exporters of rice in order to boost the rice export
industry. The fee changes will become effective on May 1, in less than two
weeks time. The government’s changes to the customs tariff scheme have been
welcomed by rice industry officials and economists. The government’s move will
help cut production and export costs by at least $15 per shipping container. With
about 379,000 tons of Cambodian rice exported in 2013 via about 15,750 shipping
containers, the MoEF’s decision could potentially save the industry more than
$236,000 annually. All stakeholders in the rice sector, including exporters,
millers and farmers stand to benefit from the fee cut. The government may lose
a small amount of revenue from fees, but they will gain a lot of benefits.
The move is the latest in a suite of changes to the Kingdom’s customs
and export process. In an effort to cut red tape and automate processes for
Cambodian exporters, the Ministry of Commerce (MoC) earlier this year relaxed
requirements relating to certificate of origin. Just last week, the MoC also
confirmed it was undergoing an internal shake-up to streamline the export
process for all industries.
Source:
http://www.phnompenhpost.com/business/rice-customs-fees-dropped
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