The Council of Ministers of B&H reached a Decision on temporary suspension and temporary decrease of customs rates in import of certain goods until December 31, 2016, including a total of 54 tariff classifications (34 as in 2015 and 20 new tariff classifications).
The aim of the Council of Ministers is to stimulate domestic economy, to maintain existing workplaces and increase employment, and to help domestic companies to increase competitiveness on the market.
This decision will be beneficial for more than 40,000 employed in B&H production, primarily those employed in footwear and textile industry. For them, reaching of this decision is crucial for the survival of production.
Upon the proposal by the Ministry of Foreign Trade and Economic Relations, the Council of Ministers of B&H reached a Decision on defining customs tariff for 2016, which is being defined on annual level and coordinated with the EU Combined Nomenclature.
By fulfilling the obligations in terms of coordinating the B&H nomenclature with the EU Combined Nomenclature, conditions are created for more successful performing of foreign trade activities between the B&H business entities and business entities in countries signatories of the CEFTA Agreement, i.e. in the EU member countries.
Reaching of this Decision ensures legal safety of production entities, continuity in their operations, and improvement of business environment.