By John Lee.
The Iraqi Cabinet has approved recommendations from the Ministry of Industry and Minerals (Industrial Development and Regulation Directorate) to impose an additional customs tariff of 50 percent on imported paper bags used for packaging cement.
The new measure will come into force after 120 days, and run for four years, during which the effect on the local market will be monitored. Regulatory bodies will audit the effects of the additional tariff.
The Ministry of Industry and Minerals will assess the increase in imports compared to the previous three years, and ensure that, "the complaining company can meet market demand without inflating prices, and determine the protection's importance for the national economy.
(Source: Ministry of Oil)
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