Vietnam crude, coal export tariffs to rise to 20 pct

Fri Sep 21, 2007 3:55am BST
 
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HANOI, Sept 21 (Reuters) - Vietnam will raise tariffs on crude oil and coal exports, its main cash earners, to up to 20 percent from next year from about 5 percent to 8 percent now as it moves to limit sales of raw commodities.

"The increase in tariffs is aimed at limiting exports of raw materials and keeping them for domestic production," the National Assembly, the coutry's top legislative body, said in a statement on Friday.

The new export tariffs will be effective from Jan. 1 2008, the government said on Friday.

Vietnam now exports most of its crude output, which averages about 310,000 barresl per day, as it lacks major refineries.

 

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