EU Tariff Cuts Help Thai Shrimp Industry

THAILAND - Charoen Pokphand Foods Plc (CPF), the SET-listed flagship of the agribusiness conglomerate the CP Group, is upbeat about its own sales and the overall shrimp industry now that the European Union has restored preferential import tariffs. </b> <br><br>The EU this month reinstated lower tariffs for Thai shrimp under its Generalised System of Preferences (GSP), a system designed to help developing countries. <br><br> ``The outlook is bright not only for exports but also Thai shrimp farmers, and other related industries whose products are bound for the European Union market,&#39;&#39; said Adirek Sripratak, the CPF president and CEO. <br><br> After pushing back the scheduled introduction of lower import tariffs until Jan 1 next year, the EU agreed recently to restore GSP privileges this month in order to help the Thai shrimp industry, which sustained heavy damage after the tsunami last December. <br><br> <i>Source: Bangkok Post</i>

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