Lebanon Businessnews News
 

Government retaliates
over technical trade barriers
Minister of Industry

behind reciprocity measures

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The government has started applying reciprocity in erecting technical trade barriers on imports that do not comply with local standards. “All countries, even the Arab countries, are protecting their own industry and are not faithful to trade agreements they have signed with Lebanon,” announced Wael Abou Faour, Minister of Industry, during a roundtable conference organized by ‘Leaders Club by Lebanon Opportunities’.

“We are obliged to make protective procedures, and we will be keen in maintaining our national interests,” he said.

The Cabinet has decreed the imposition of fees on 18 products, and this will become effective after it publication in the Official Gazette next week.

The government has also decreed the exemption of all raw materials for manufacturing products from Customs fees.

Abou Faour said benefits from the economic development yield gained from subsidizing industry outweigh its cost.
Reported by Rania Ghanem
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Date Posted: Sep 20, 2019