Turkey exempts Azerbaijan's polyester fiber imports from extra duties

Turkey is introducing an extra duty for the import of polyester fiber. Several countries, including Azerbaijan, have been exempted from it.

Report informs, citing Resmi Gazete, that local producer SASA Polyester sent the respective appeal to the country's trade ministry. The document has been signed by President of Turkey Recep Tayyip Erdogan and comes into effect from the signing date.

The growing import of this production played its role in the issue. In the first half of 2021, Turkey imported 114,240 tonnes of polyester fiber worth $135.5 million. Within the year, supplies grew by 20.5% in volumes and 35.3% in cost.

According to the information, the move is aimed at protecting the domestic market. The additional duty for each imported kilogram of polyester will make $0.06 in the first year, $0.05 in the second year, and $0.056 in the third year. The decision will be effective for three years.

In this period, several countries, including Azerbaijan, with the supplies to be carried out via the Nakhchivan Autonomous Republic, will export these products without paying any additional fees. But the total quota on imports will be restricted by 16,593 tonnes for three years or 5,531 tonnes each year.