Kuwait Exempts Tariff on Cement and Steel Reinforcement Materials and Halts Thei

Kuwait Cabinet issued the decree No. 546/2 on April 12, 2010, to exempt import tariff on cement and steel reinforcement materials used for construction and to halt the export of such materials for one year.

Background of this cabinet decree is: since the beginning of this year, the domestic construction industry in Kuwait has been rapidly developing and new programs for economic development have spurred a number of infrastructure projects, thus leading to a sharp surge in both the demand and market price for cement and steel reinforcement materials.