S. African ITAC Approves Increase of Import Duties on Fasteners

The South African fastener manufacturer CBC Fasteners told that since 2008, the volume of fasteners imported to South Africa has been increasing year by year, giving more and more pressure to local fastener manufacturers including higher manufacturing cost, capacity that dropped by 18% during 2010 to 2012, and the rising unemployment rate. Even though a regulation came into force in 2012 in South Africa for imposing 104.5% import duties upon the non-stainless steel screws with hexagonal heads from China. It is said by relevant local fastener manufacturers that the current measure has not been good enough to tackle such difficulties. Therefore, CBC Fasteners submitted the application to South African International Trade Administration Commission (ITAC) asking for the increase of import duties against fasteners, which was also favored by The South African Fastener Manufacturers’ Association (SAFMA).