BiH COUNCIL OF MINISTERS AWAKENS Suspended import duties on deficit raw materials

SARAJEVO, (Patria) - The Council of Ministers of BiH, at the proposal of the Ministry of Foreign Trade and Economic Relations, unanimously adopted the Decision on the temporary suspension and temporary reduction of customs rates for the import of certain goods until December 31, 2022.

The Council of Ministers adopts this temporary measure annually in accordance with the Law on the Customs Tariff, with the aim of supporting the domestic economy, its more competitive and favorable business operations, and retaining existing jobs and creating new employment, which is especially important during the COVID-19 pandemic.

This year's decision covers 63 tariff codes in the textile, footwear, chemical, metal, food and graphic industries, as well as the electrical industry.

The goods covered by this decision are materials and raw materials considered as raw materials, as they are used by BiH manufacturers in their own production to make finished products, in the production of products for export, or are a substitute for imported products, and which cannot be obtained on the domestic market in the quantities and quality required for the production of finished products.

The Ministry of Foreign Trade and Economic Relations will in the future compile and submit an annual report to the Council of Ministers of BiH on the application and effects of decisions on the temporary suspension and temporary reduction of customs rates for the import of certain goods.