06 : 44 PM - 01/02/2012 Manama, Feb. 1 (BNA) – Customs Affairs announced that the total value of exemptions given to national factories during the last year was BD64 million.
The exemptions were given as implementation of the decision of the GCC Supreme Council regarding the GCC Customs Union, taken in 2001.


The decision was to provide industrial facilities in the GCC states an exemption on its imports of machines, equipment, spare parts, and initial raw materials, semi-processed materials, Packaging, and wrapping materials essential to industrial production, all according to rules set for exemption.

It is to be noted that submitting requests for exemptions of national factories is the responsibility of National Industries Support Committee of which Customs Affairs is a member. The exemptions facilitate decrease the local prices of national products, and increase its chances in competition against imported foreign products. They also help in the regional and international competition against similar foreign products.
DH