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Ministry of Commerce and Industry to hike custom fees

KUWAIT, Oct 8: The Ministry of Commerce and Industry has completed a study on increasing customs fees for imported iron from five percent to 15 percent as a way to face the abundance of Chinese iron in the market, reported Al- Shahed daily quoting sources.

Sources disclosed the demand for Chinese iron is on the rise because it is cheap compared to the one manufactured locally. Sources affirmed the concerned authorities are looking for ways to protect national product from the market glut and recession.

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