Business updates

In view of the commitments taken under the interim Economic Partnership Agreement (iEPA) with the European Commission, customs duties have been reduced on the importation of a number of products from the 28 countries of the European Union including importation from their overseas countries and territories.

Since 1^st January 2018, consignments imported from the European Union and accompanied by a Movement Certificate EUR-1 attract lower rates of customs duties for products such as alcoholic beverages, pet food, plastic products, leather products, wood marquetry, paper products, bed linen, and iron bars and rods, amongst others. The complete list of products with their respective HS codes which attract lower rates of customs duties when imported from the European Union can be accessed by clicking here.

It is to be noted that since the Free Trade Agreement (FTA) signed with Turkey is based on the commitments taken under the iEPA, importation from Turkey also attracts lower rates of customs duties for the same list of products.