Free shipping for land and sea exports

Economy & Aftermath

The Commission for the Support and Development of Local Production and Exports announced the approvals of a mechanism to 100% subsidize land and sea freight to support the export contracts signed on the sidelines of 61st Damascus International Fair.

Ibrahim Mida, Director of the Commission for the Support and Development of Local Production and Exports pointed out that the export shipping support mechanism  includes 100 % percent support for the cost of shipping goods exported by land or sea under the signed contracts which means “free shipping”, in parallel with raising the “value of support” to 20 % compared with the previous years of the value allocated for exporting agricultural products and 15 % of the value for exporting other products as the value last year did not exceed 14 %.

“When we say 100 % support for exported goods this means that the authority pays the full costs of freight by land or sea to the beneficiaries of the subsidies, and when we talk about 20 % or 15 %, then this will be related to the value of exports in general”, he said, adding that the “shipping costs cannot be more than 20 % of the exported goods’ value, therefore, we have increased the margin of subsidies value, which will serve interests of the exporters”.

The aim of the support mechanism is to increase the access of Syrian products to foreign markets and to increase their competitiveness, as free shipping would reduce the cost paid by exporters and thus give the goods the ability to compete in the targeted markets, especially that Syrian products are recognized for their good quality and acceptable price, Media clarified.

Inas Abdulkareem

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