REDUCED CUSTOMS FOR THE IMPORT OF REPROMATERIALS

REDUCED CUSTOMS FOR THE IMPORT OF REPROMATERIALS

The decision, which was made at the proposal of the Ministry of Foreign Trade and Economic Relations in the Council of Ministers, included 63 tariff codes in the textile, footwear, chemical, metal, food and graphic industry sectors, as well as the electrical industry, the Council of Ministers announced.
The decision includes materials and raw materials that are considered remanufactured materials, because they are used by producers in BiH in their own production for the production of finished products, in the production of products for export or are a substitution of imported products, and which cannot be obtained on the domestic market in the quantities and quality required for the production of finished products.

This measure was adopted with the aim of supporting the domestic economy, its more competitive and favorable business, and the retention of existing jobs and new employment.

The press release states that for a large number of economic entities, the adoption of this decision is very important for the survival of production, given the strong impact on the economy during the pandemic and it affects around 40,000 workers.

The Council of Ministers, at an extraordinary telephone session, made a decision on determining the customs tariff for the year 2023, harmonized with the combined EU nomenclature, which creates conditions for more successful foreign trade operations between economic entities in BiH and economic entities in the signatory countries of the CEFTA agreement, i.e. to the EU member states, as well as to all other countries with which BiH concluded an agreement on free trade.

The Ministry of Foreign Trade and Economic Relations, in cooperation with the Office for Legislation of the Council of Ministers of BiH, will prepare this decision for signing and publication in the Official Gazette of BiH.

Source: http://business-magazine.ba/2022/12/22/smanjena-carina-uvoz-repromaterijala/

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