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
Is this the end of the Gulf’s Indian cash dash?

Is this the end of the Gulf’s Indian cash dash?

From currency woes to taxation loopholes closing and a clampdown...

2
Q&A with Dubai Chamber

Q&A with Dubai Chamber

We spoke with Essa Al Zaabi of Dubai Chamber of Commerce to find...

The politics of big data

The politics of big data

The UAE may be one of the fastest adopters of e-government initiatives...

Most Discussed
  • 23
    Why Qatar developers struggle despite construction boom

    Lets be fair, Dubai and Doha cannot be compared. Not only Dubai is ahead of Doha by more that 20+ years, but the UAE have the MENTALITY that Qatar unfortunately... more

    Saturday, 30 August 2014 1:43 AM - Mike
  • 7
    Saudi Arabia seeks talks on hiring of Sri Lankan maids

    I completely agree that Sri Lanka should not send any House Maids. Women should not be the solo breadwinner and destroy the life's of the children who... more

    Saturday, 30 August 2014 5:02 PM - Zaffe
  • 2
    Visitor beware

    It is absolutely disgusting to see the level of biasedness in this article and in AB in general.
    You pretty much slammed the entire 5-nations of the... more

    Tuesday, 26 August 2014 2:08 PM - RAH