Thailand’s government has approved the waiving of duties on their imports of machinery and spare parts, until the end of June 2012. The measure was taken to help businesses with plants damaged by the floods in the country. The measure will cover imports from October 25, 2011 until the above mentioned date.
The country’s automobile manufacturing industry will particularly get benefited by this measure, as duty will be exempted on the import of car parts throughout the auto industry, it will help to offset the output it lost during the floods. It is also declared that as the Honda’s manufacturing company suffered the most during the flood, it has been given the permission to import completely-built-up cars free of import duty.
