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Monday, May 21 2012
 
Customs 
 
 

Customs AGCC exemption
According to the AGCC Unified Economic Agreement drawn up in June 1981, products originating in any AGCC state are exempted from customs duty (and other charges having an equivalent effect) in any other AGCC state. However, to qualify as national products, the value added ensuing from their production in member states must not be less than 40 per cent of their final value, and the factory must be licensed by the Ministry of Industry and Commerce.

In addition, the share of the member-state citizens in the ownership of the producing plant must not be less than 51 per cent. Exemption claims must be accompanied by a certificate of origin of the item(s), duly authenticated by the appropriate government agency.

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