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Tue, 12 Mar 2019 19:35 - Updated Tue, 12 Mar 2019 19:35

SADC regulations with favorable rates for products made in region

Luanda - Domestic producers that comply with the regulations imposed by the Southern African Development Community (SADC) may benefit from reduced or non-tariff rates on imports of goods to other countries in the region as soon as Angola enters the Free Trade Zone.

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One of the criteria for obtaining preferential rates is to certify that products to be sold in other member states are made "wholly" with means purchased in the SADC Area.

Otherwise, according to the head of the Department of Tariffs and Trade of the General Tax Administration (AGT), Santos Mussamo, producers will be subject to generic rates, taxing based on those in the customs tariff.

Speaking to journalists on Tuesday, on the sidelines of the SADC Workshop on Rules of Origin, which brought together national dispatches and producers, as part of the preparations for Angola's entry into the Free Trade Zone, it said that its own criteria were defined to determine the "nationality" of the goods, so that the production of this economic block is protected.

The SADC Rules of Origin expressed in Annex I to the protocol of the regional organization on trade constitute a set of factors determining the nationality of the goods such as the place where they are produced in the whole or the place where they have undergone the last substantial transformation.

The SADC Free Trade Zone will comprise 16 member states, with over 230 million inhabitants and with a GDP of approximately US $ 441 billion.

Tags Comércio   Economy   SADC  

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