Syria exempts Iranian goods from customs duties

The Syrian Ministry of Economy and Foreign Trade exempted goods of Iranian origin and source from customs duties, while sources in the free zones explained the advantages of this decision.

The exemption decision includes goods stored or deposited in and directly imported to the Syrian free zones, and the exemptions stipulated in the provisions of the free trade agreement signed between Syria and Iran.

A decision was previously issued by the Governor of the Central Bank of Syria No. 12/1 dated 12/1/ 2022, which includes the procedures related to Resolution No. 1070 of 2021 regarding the statement of funding sources for goods and mechanisms belonging to investors in the free zones, bearing in mind that these two decisions are in the interest of investment and investors in the free zones.

And they achieve the following advantages by the head and members of the Higher Committee for Investors in the Syrian Free Zones:

  1. Activating the work of investors in the free zones and increasing the demand for investments therein, which leads to the strengthening of the economic and developmental role of the investors in the free zones.
  2. Enabling investors in the free zones to ship goods from Iran and store them in their facilities investing in the free zones, and to benefit from the advantages and exemptions stipulated in the provisions of the free trade agreement signed between the two countries when they are entered into the Syrian local market.
  3. Meeting the basic demand of investors in Iran, especially after the opening of two commercial centers in the Damascus Free Zone, in addition to the presence of a number of Iranian investors wishing to store Iranian goods and set up permanent exhibitions for Iranian products to meet the needs of Syria and neighboring countries.
  4. Treating investors in free zones as foreign companies, and therefore Resolution 1070 of 2021 applies to imports from free zones to the local market and does not apply to imports from outside Syria to free zones.

Therefore, the investor doesn’t need to indicate the sources of financing his imports.

  1. Activate the movement of trade so that the free zones become strategic and immediate storage places for the goods needed by Syria and the neighboring countries through the investors buying large quantities and storing them in the free zones, after which these goods or mechanisms are taken out by the investor, either transiting outside Syria or placing them for local consumption and meeting the need of local market directly, thus enabling the investor to ship his goods without waiting for the issuance of the import license and the statement of the source of financing.

The head and members of the Higher Committee for Investors in the Syrian Free Zones demanded the issuance of decisions that would activate and revitalize industrial work in the free zones to attract new investments in order to establish export industries and industries that integrate with local industries and industries that secure the needs of Syria and neighboring countries.

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