via New tariff regime under scrutiny October 30, 2014
THE Zimbabwe National Chamber of Commerce (ZNCC), with the technical assistance of the International Trade Centre (ITC), is carrying out a survey to assess the expected impact of the new tariff regime as set out in the 2014 National Budget.
In a statement yesterday, ZNCC said the aim of the survey was to assess the expected impact of the new trade regime as set out in the 2014 National Budget statement, paying particular attention to whether this would enhance industry competitiveness, enhance consumer welfare and whether the measures are in line with Zimbabwe’s bilateral, regional and international commitments.
This follows the initial research that was also commissioned by ZNCC through the Zimbabwe Economic Policy Analysis and Research Unit in March 2014 on the import duty structure.
ZNCC said the sectors which would be affected by the new tariff regime as specified under the 2014 National Budget statement include steel and plastic, dairy and processing, biscuit, paint, metal and electrical, rubber, oil and blanket industries.
“The study recommended the need for strengthened policing of the new tariff regime as well as control of the goods entering the country and also the need to ensure that standards are well respected and enforced.
“The study also raised queries on Zimbabwe’s compliance to regional and international integration protocols,” ZNCC said in a statement.
ZNCC said the revival of the manufacturing sector continued to be a topical issue in Zimbabwe.
The current policy thrust as outlined in the 2014 Budget, has moved away from being centred only on funding, but has expanded the use of import duty as a way of both discouraging imports and protecting local industry.
Several products, including those whose duty was zero-rated, saw tariffs being introduced.
However, ZNCC said the imposition of the tariffs by government was intended to support the productive sectors as well as to provide modest protection for the local industry.
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