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ALGIERS- The import bill of agricultural and food-processing products imported from the European Union (EU) subject to import licences, is expected to cost USD1 billion in 2016, including 700 million for products under quota and 300 million for those exempted from customs duties, but not subject to limited quantities, the Ministry of Trade told APS.

In fact, agricultural and food-processing products imported from the European Union and subject to import quotas represent about 92% of this entire category of products purchased from this area.

The list of products under quota imported from the EU, which are products benefiting from a full exemption from customs duties, but of which the imported quantities are limited, is made of about a hundred products, 63 of which will be subject to, as of January 2016, licence quotas.

Products under quota either benefit from full exemption from customs duties, or low rates of these rights compared to those quantities in excess of quotas, explained the source.

The quota allows, during the period of the validity of the measure and for a limited volume of goods, the complete or partial waiver of customs duties, which should be normally paid on imported merchandises.

In 2014, imports from the EU of agricultural and food-processing products which exceed the quotas was established to USD3.7 billion, USD788 million of which represented the value of the part under quota.

In 2014, the EU held 53% of the Algerian market for agricultural and food-processing products, of which more than half is admitted exempted from Customs duties, said the National Agency for the Promotion of Foreign Trade (Algex).

On the whole, agricultural and food-processing products and those of fishing imported from the EU represented 17% of all the products imported by Algeria from this area with a value of USD5 billion.

Tag(s) : #Economy

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