A Preferential Duty Rate is lower than the normal duty rate applied to the imports from third countries.
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What are preferential duties?
A Preferential Duty Rate is lower than the normal duty rate applied to the imports from third countries - i.e. lower than the Most Favoured Nation (MFN) duty rate. This lower duty may be claimed for qualifying goods originating in countries with which the importing country has a Free Trade Agreement (FTA). In order for you to claim the preferential duty rate, you usually need to submit some kind of Proof of Origin.
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