Lebanon Businessnews News

Customs fees imposed on imported aluminum
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Customs fees on imported aluminum extrusions will be raised 14 to 20 percent depending on the producer, according to a decree issued by the Ministry of Economy and Trade.

The decision will go into effect once it is published in the Official Gazette, and will be enforced for a period of four months.

Aluminum extrusions are sold in various profiles and are used in windows, doors, and other structural applications.

Customs fees will be raised by 20 percent on products imported from China, and 14 percent for those imported from the UAE. Imported aluminum from these countries is cheaper than domestic extrusions.

Raising fees on imported aluminum goods came in response to calls by SIDEM and Aluxal, the country’s two main aluminum players, to protect their products from cheaper imports.

The decision stipulates that customs fees are not to be imposed on aluminum profiles if the importer is a registered manufacturer who uses these products as raw materials for his industry.

The decision requires manufacturers to maintain current prices unless the prices of industrial metals increase on the London Metal Exchange (LME).
Reported by Rania Ghanem
Date Posted: Oct 31, 2018
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