Thailand to Cut Certain Auto Part Import Duties
Thailand recently announced new incentives for its domestic auto manufacturing industry, including reduced import duties for certain auto parts, the Hong Kong Trade Development Council reported March 21. The incentive package is aimed at “stimulating” the country’s use of electric…
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vehicles and will include a 40% drop in customs duties for certain battery electric vehicles, HKTDC said. Thailand also will offer certain import duty exemptions for “major components.”