Palm oil duty cut

By Amit Baruah

HANOI, JULY 27. India has conveyed to Malaysia its decision to reduce the duty on import of crude palm oil by 10 per cent.

The hike in palm oil import duties had dominated much of the visit of the Prime Minister, Mr. A.B. Vajpayee, to Kuala Lumpur in May this year. India had said at the time that it would ``review'' the hike.

That has now been done here, in Hanoi, on the sidelines of the ASEAN and ASEAN Regional Forum (ARF) meetings.

Malaysian officials, responding to the decision, during a bilateral meeting, said they hoped this would be a ``first step'' towards further reduction.

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