Libya removes customs fees on more that 3500 items

Libya has decided to removed customs fees on more than 3500 commodities imported to the country with the exception of 81 items. This is in a step that aims at liberalizing trade together with "protecting local products."

The Libyan (prime minister) Shukri Ghanem announced that the decision "falls in the course of economic measures which aim at improving economic performance and alleviates burdens concerning high prices of certain commodities. Ghanem stressed that "removing of the customs fees would reduce prices, invrease trade, gets rid off bureaucratic measures and fights smuggling practically."

Ghanem indicated that the aim behind removing fees falls in the course of "increasing trade and making of Libya a free market and an area for the crossing and linking trade between Africa and Europe," noting that this decision does not mean "opening the doors wide to the entry of goods unconditionally." He explained that the minister of economy will issue necessary decision that bans the entry of several items for religious and security reasons.

Traders and economists stressed on Sunday that the customs tariffs on consumer items and foodstuffs will be reduced to 4% from 10%, noting that tariffs on imported non-exempted items will be between 25 to 50 percent.

Goods which will not be exempted from customs fees are luxurious cars or others that compete with locally assembled items including refrigerators, TV sets and agricultural items.