Fonterra welcomes reduction in Egyptian tariffs

Media Release
20 February 2007

Fonterra welcomes reduction in Egyptian dairy tariffs

Fonterra has welcomed Egypt’s decision to reduce the tariff rates it places on dairy imports into that country.

John Shaskey, Managing Director Fonterra Global Trade, said the decision is good news for New Zealand dairy farmers and he acknowledged the efforts by Trade Minister Phil Goff and New Zealand’s trade officials in helping to improve better access for the country’s exports in international markets.

“This is also good news for Egyptian consumers who face increasing prices from a tight international supply for dairy products.

“Egypt is a $140 million market for New Zealand dairy products and the reduction in tariffs will mean most of these exports will now enter that country at a tariff rate of between 0 to 2 percent,” he explained.

“These tariff reductions will help Fonterra maintain its competitive position in the Egyptian market.

However, Mr Shaskey said European dairy exporters still enjoyed preferential market access in Egypt.

“Fonterra remains hopeful that the Egyptian authorities will now take the next step and remove the remaining two percent tariff rates on affected lines to create a level playing field for all dairy imports into that country.”

ENDS

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