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Economy, Domestic Economy

IRICA Facility for Local Production

In a move to support domestic production, the Islamic Republic of Iran Customs Administration will allow local producers to clear their raw material imports before they go through customs procedures and formalities within a week, an official with the administration said.

“Only a small fraction of the raw materials will be kept by IRICA and that won’t create a serious problem for producers. The offer is not applicable to imports with tariff levels of above 26%, which usually have local counterparts. Their customs tariffs and duties must be paid first,” ILNA also quoted Ali Maqooli as saying.

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