The packaging subsidiary of San Miguel Corp., a Philippine food and beverage conglomerate, has asked the government to keep tariffs on imported bottle caps at the current level of 10% until 2003.
In …
The packaging subsidiary of San Miguel Corp., a Philippine food and beverage conglomerate, has asked the government to keep tariffs on imported bottle caps at the current level of 10% until 2003. In a petition to the Technical Working Group of the government“s Tariff Commission released recently, San Miguel Packaging Products Inc. seeks the current tariff level on crown corks for three more years, or up to 2003, to give the company more time to enhance its operations in preparation for the entry of competing products from countries outside Southeast Asia. From the current level, duties on crown corks imported from countries outside Southeast Asia are scheduled to go down to 7% by 2001 and to 5% by 2003. Duties on crown corks under the ASEAN (Association of Southeast Asian Nations) Common Effective Preferential Tariff Rate scheme are poised to be cut to 5% by 2002 from the present 10%. The Philippines is committed to reduce its tariffs on all goods to a maximum 5% by 2004. San Miguel Packaging controls two-thirds of the total sales for metal closures. In 1999, San Miguel Packaging“s sales of metal closures fell 5%, even as its operating income rose 27%. San Miguel Packaging produces glass containers, corrugated carton, flexible packaging, plastic crates and pallets, and two-piece aluminum cans. Aside from its local operations, the company also has facilities in China, Vietnam and Indonesia.