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Fri, 13 Sep 2019 16:19 - Updated Fri, 13 Sep 2019 16:19

Customs warehouses in border zones approved

Luanda - The President of the Republic, João Lourenço, approved the creation of customs warehouses in the commerce areas near the country's land borders and the regulation on its operation, ANGOP learned this Friday.

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This decision of the Angolan Government, expressed in a Presidential Decree published in the State Gazette, of September 2, arises from the need to ensure the improvement of the business environment, encourage private investment and consolidate physical infrastructures, organizing economic activities in the national borders.

Likewise, the Executive intends, with the initiative, to stimulate private investment and the development of border areas, according to the geopolitical situation and economic potential of neighboring countries, especially the Democratic Republics of Congo (DRC) and Namibia.

The law, which comes into force 60 days after its publication, also aims to regulate the way in which customs warehouses are created, organized and operated in border trade areas.

The customs warehouses provided for must be privately owned and located in the border area corresponding to the strip of territory neighboring the border, the length of which is up to 10 kilometers within the customs territory.

The implementation of this initiative will involve the Ministry of Finance, through the General Tax Administration (AGT), the Territory Administration and State Reform, the Interior, as well as the provincial governments, which will work in defining the border areas for the installation of customs warehouses.

The law also states that customs operations and the regime of storage of goods in customs warehouses along the land borders comply with the provisions of the current Customs Tariff.

 The regulation imposes some restrictions on the storage of goods, such as explosives, weapons and ammunition, among other dangerous goods.

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