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Related Keywords: attract more investors in textile sector, ban on second-hand clothes, boost Made in Rwanda campaign, create jobs, effective second of December lose billions of francs in taxes, import duties, importation of textile raw materials, increase production, quality and quantitiy, Rwanda government, tax exemption, Value Added Tax, VAT

Rwanda government to boost Made in Rwanda campaign has announced tax exemption for importation of textile raw materials and leather, it applies to both import duties and Value Added Tax (VAT) which is effective from Friday, December 2, 2016. Although this move will see government lose billions of francs in taxes that it was getting from leather and textile imports, in the long run the government hopeful that it will boost the Made in Rwanda campaign.

Related Keywords: china’s economy, import duties, leading industrialists in India, Mukesh Ambani, Narendra Modi, rupee depreciation, steel exports, steel industry, steel prices, textile domestic market, textile exports, textile imports, Textile Industry, yuan depreciation

With currencies weakening and global economic turmoil, Prime Minister Narendra Modi held a meeting on Tuesday with industrialists, bankers and economists to analyse the current situation and identify solutions.

Related Keywords: finished goods, Free trade agreement, Haris Munandar, ideal tariff system, import duties, Indonesian government, Industry Ministry’s director of Industry Climate and Quality Policy Research Center, Textile

The Indonesian government to regularize its tariffs is evaluate the possibility of raising import duties on a wide range of finished goods. According to Industry Ministry’s director of Industry Climate and Quality Policy Research Center Haris Munandar, the potential hike will cover 741 out of over 10,000 existing tariff codes in the current customs system, cover textiles.

The step will support their goal to reach an ideal tariff system where [imported] finished products are charged with higher duties compared to raw materials or intermediate goods.