Algeria relaxes its broad ban on imports

Higher custom duties are in place to discourage imports
view on Algiers, capital of Algeria

According to the country’s trade Ministry It has been replaced with customs duties ranging from 30 to 200 percent.

Under the new policy, Algeria is lifting the ban imposed in 2018 on cell phones, home appliances, raw materials, some foodstuffs and other products,

Imports of cars and some other products are still banned.

This new policy comes following the failure of the broad ban to reduce imports.

Algeria imposed the ban to ease pressure on the state’s finances caused by lower oil and gas revenue, but the move had little impact because Algeria’s small manufacturing base could not produce enough substitutes.

Your Friends Also Read:  Senegal Football Team Wins $5 Million AFCON Prize Money

“The goods and products, which were suspended in 2018, are free for import from now on,” the ministry said, adding that measure is aimed at encouraging local companies and protecting the nation’s “infant industries”.

Analysts say the new customs duties will drive up prices, rather than address the bigger problem of an under-developed domestic industry.


All rights reserved. This material, and other digital content on this website, may not be reproduced, published, broadcast, rewritten or redistributed in whole or in part without prior express written permission from News Central TV.

Contact: digital@newscentral.ng

Total
0
Shares

Leave a Reply

Previous Article

At least 31 dead after migrant boats sink off Djibouti

Next Article

For more Nigerian women, family planning is power

Related Posts
Powered by Live Score & Live Score App