The EU has announced it will scrap antidumping duties on South Korean polyester staple fibres, according to the Korea International Trade Association.

Duties will be cancelled from 29 December 2005, the Association said.

The EU said in March that it would place tariffs of up to 10.6 per cent on the fibres, a figure approximately half that of previous tariffs.

Anti-dumping duties against Taiwan have already been levied, but extended for China and Saudi Arabia.

The decision will considerably increase South Korea's PSF exports to the EU, which rose 43 per cent year-on-year to US$150 million last year.