Cairo – Mubasher: The presidential decree of increasing the customs tariffs on 364 commodities aims to curb importation and encouraging the national industries as well as attracting foreign investments, said Ministry of finance (MOF).
The decision will enhance the small and medium industries in addition to cutting the importation activity which lead to increasing the county’s trade balance deficit to more than $49 billion, noted MOF.
Earlier, President Abdel Fattah al-Sisi has issued a presidential decree (number 538 for the year 2016) amending some of the customs tariffs previously in force (decree number 184 for the year 2013).
The list of goods includes consumer goods which are described as "provocative" or "unnecessary", like plantains, on which the tariffs went up from 30%to 60 %; pineapples, from 20 to 40%; US pear, from 20 to 40%; apricots, from 30 to 60%; chewing gum, from 40 to 60 %, cocoa powder that contains sugar, from 10 to 20% crispy bread, from 30 to 60% bread with ginger and cherries, from 10 to 60%.
Other consumer products on the list include: Perfumes and cosmetic products; fireworks; animal harnesses and related accessories; safety shoes; sneakers; granite stones; tableware and cooking utensils; armed and non-armed glass; showers; door locks; windows; fans; fridges and other electric devices; and last, but not least, pens and pencils.
