Trade Co-operation Agreement between Government of State of Kuwait and Government of Republic of Lebanon

Government of State of Kuwait and Government Republic of Lebanon in view of fraternal relations between two countries and excellent relations on all political, social and economical levels, and in accordance with Trade Co-operation Agreement between the governments of two countries executed in 10-01-1996 and third clause of the Agreement in respect of exemption of customs duties and other equal effective duties on industrial products manufactured by either party and imported by other party, agree as follows:

The governments of two countries agree that:

Clause (1)

Industrial products of national origin stipulated in two schedules A & B are exempted from customs duties and other equal effective duties. It has been agreed and signed as per minutes of Joint Technical Committee meeting held in Kuwait during the dates from 2/5/98 to 4/5/98. It will take effect from 1/1/1999.

Clause (2)

Customs duties and other equal effective duties imposed on remaining industrial products of both countries are reduced by 25% p.a. starting with effect from 1/1/99. It includes sectors of petroleum, petrochemical, chemical and metal products of non-metal mining and textile products, wearing apparels, leather products, industry of papers, paper products, printing and publishing industry of foodstuffs and wooden products.

Clause (3)

This agreement is subjugated to the provisions of Trade Co-operation Agreement signed by the Government of two countries on 10/01/1996.

Schedule of Kuwaiti Industrial Products Directly Exempted (fully) upon exporting to Republic of Lebanon.

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