Jet fuel imports from Gulf exempt from duty - EU

  • Share via facebook
  • Tweet this
  • Bookmark and Share

Jet fuel imports from Gulf countries are exempt from paying a new 4.7 percent duty, an EU official said on Wednesday, overriding a previous statement they would have faced the charge.

Last month, officials had said the European Union would impose the duty, which could have significantly increased costs for airlines.

The new duty was proposed after the European Union removed the Gulf states from its generalised scheme of preferences (GSP), which offers preferential trade status to developing economies, because they are now classified as upper-middle income economies by the World Bank.

On Wednesday, a spokesman told Reuters hundreds of bilateral agreements were in place that prevented the duty being applied.

"Some 1,500 binding air transport agreements exist between EU Member States and third countries, as well as between the European Union as a whole and the U.S., Canada, Georgia, Moldova, Jordan, Israel and Brazil," Commission spokesman for trade policy John Clancy said by email.

"These agreements include provisions exempting jet fuel from duties and taxes, disregarding its origin. Hence, jet fuel imports from the Gulf countries are exempt from paying duties."

Related:
Companies
Join the Discussion

Disclaimer:The view expressed here by our readers are not necessarily shared by Arabian Business, its employees, sponsors or its advertisers.

Please post responsibly. Commenter Rules

  • No comments yet, be the first!

Enter the words above: Enter the numbers you hear:

All comments are subject to approval before appearing

Further reading

Features & Analysis
Saudi Arabia rewrites its oil game with refining might

Saudi Arabia rewrites its oil game with refining might

Gulf kingdom now has stakes in more than 5 million barrels per...

How to get the most out of social media, by Obama's 2008 campaign manager

How to get the most out of social media, by Obama's 2008 campaign manager

David Plouffe is credited with Barack Obama’s unlikely 2008 victory...

King's absence from US summit shows Saudi upset over Iran push

King's absence from US summit shows Saudi upset over Iran push

Analysts and diplomats in the Middle East describe King Salman...

Most Discussed