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UPDATE 1-Norway predicts higher seafood exports to China as tariffs drop
December 6, 2017 / 2:38 PM / 7 days ago

UPDATE 1-Norway predicts higher seafood exports to China as tariffs drop

(Adds detail, background)

OSLO, Dec 6 (Reuters) - China’s finance ministry has announced cuts in seafood import tariffs, including for frozen salmon, which will likely give Norwegian exports to the country a significant boost, Norway’s Industry and Fisheries Ministry said on Wednesday.

“This is fantastic news,” Fisheries Minister Per Sandberg said in a statement, adding that lower Chinese tariffs would be important to the Norwegian seafood industry.

Norway is the world’s top producer of farmed salmon, and the shares of Marine Harvest and other companies rose following the ministry’s statement.

Political and diplomatic ties between Norway and China broke down in 2010 over the award of the Nobel Peace Prize to Chinese dissident Liu Xiaobo, and only began to normalise in December 2016.

The conflict also impacted trade, and it will still take some time before relations are fully restored, the Norwegian ministry said, noting that some salmon producers are still prevented from exporting to China. (Reporting by Terje Solsvik, editing by Nerijus Adomaitis)

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