ECOWAS to Take Uniform Tariff System

 
Reportedly, the Economic Community of West African States (ECOWAS) has recently decided to carry out a new uniform tariff system over its meeting of member financial ministers.

The new uniform tariffs cover 5,899 HS Codes, applying the duty rate of 5% to 2,146 HS Codes concerning basic raw materials and capital goods; applying 10% to 1,373 HS Codes concerning intermediate goods; applying 20% to 2,165 HS Codes concerning final consumer goods; and applying 0-35% to 130 Codes concerning special commodities.