The changes to the Customs Tariff Law, which were endorsed on Tuesday by the government, will contribute to strengthening the competitiveness of the domestic companies, increased exports, higher employment rate, job creation, more intensified inclusion in the global supply chains, i.e. creating added value, Finance Minister Fatmir Besimi said at Wednesday’s press conference.
Besimi said that the changes to the Customs Tariff Law permanently reduce or abolishe the customs duty rates on 258 products imported into our country, and their reduction does not violate free trade agreements or trade policy. “The total indirect support given to the economy with the reduction of tariffs with changes to the law is Mden 810 million or EUR 13 million per year from the total collected revenues of EUR 17.5 million based on these tariffs. This represents a 74% reduction in the fiscal burden based on these tariffs, which is a 12% share in the total collected import duties in 2020 valued at EUR 110 million. The funds are intended for the economy and will mean more investment and new jobs,” Besimi noted.
By endorsing the changes to the Customs Tariff Law the request by the businessmen for harmonization of certain customs tariff numbers regarding customs tariff rates with the EU customs tariff rates, is met, he pointed out. “Most of the reduced customs tariff rates refer to intermediate products used as raw materials in manufacturing as well as in the sectors of automotive, metal processing, metallurgy, textile and leather industry, which faced serious difficulties due to the COVID 19 pandemic, in 2020 and early 2021,” Besimi said.
He noted that the main goal of the changes to the Customs Tariff Law is harmonization of part of the customs rates with the EU customs rates and thus creating conditions for greater competitiveness of domestic companies in international markets. “The harmonization of customs rates together with the implementation of the revised Pan-Euro-Mediterranean (PEM) convention, which entered into force on Nov. 2, 2021, will contribute to the gradual adjustment to the EU market conditions,” he said adding that the harmonization of customs rates for a certain part of the tariff lines is a step forward in preparing the real sector for the conditions in which the single European market operates.
Source:MIA
