Business Daily from THE HINDU group of publications
Thursday, Jun 15, 2006
Business Daily from THE HINDU group of publications Thursday, Jun 15, 2006 |
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Foreign Trade Government - Policy Govt specifies 57 countries for focus market scheme K.R. Srivats
New Delhi , June 14 The Government has come out with the list of countries that qualify for benefits under the Focus Market scheme, which was introduced in the Annual Supplement to the Foreign Trade Policy, announced in April this year.
High freight cost
The objective of this scheme is to offset the high freight cost and other disabilities to certain select international markets with a view to enhance the country's competitiveness to these countries. This scheme allows duty credit facility at 2.5 per cent of the free-on-board value of exports of all products to the notified countries. The Directorate-General of Foreign Trade has now specified eight countries from the Latin American block and 49 countries from the African block in the list of counties that qualify for benefits under the Focus Market scheme.
The countries
The eight countries in Latin America that would qualify for benefits under the Focus Market scheme are Argentina, Bolivia, Chile, Ecuador, Paraguay, Peru, Uruguay and Venezuela. The list of 49 countries in the African block include Angola, Botswana, Burundi, Cameroon, Mauritius and Zimbabwe.
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