Lower Customs Duties on Raw Materials to be useful for more than 250 Companies?

Minister of Foreign Trade and Economic Relations of BiH Mirko Sarovic presented the Decision on temporary suspension and temporary reduction of customs tariffs on imports of certain commodities by December 31, 2018.

It was emphasized that the Decision, which includes 52 tariff labels for raw materials that are used by BH producers in their process of production and that cannot be procured in BiH, is very important for domestic businessmen with the aim of improvement of conditions for their business operations and keeping the existing and possible opening of new workplaces.

“After five years, it gives me the right to believe that we are on the right track and that this is one of the measures that will benefit the economy of BiH and represents a great incentive,” noted Minister Sarovic.

According to him, more than 250 companies in BiH will have the benefit from this decision, mostly in the textile and footwear industry.

“The EU has lower customs tariffs on imports of raw materials, and this decision represents an approximation to European standards in that sense,” said the President of the Foreign Trade Chamber of BiH, Ahmet Egrlic.




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