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NATIONAL & INTERNATIONAL TRADE ASSOCIATIONS Kuwait belongs to the Arab League, the International Monetary Fund, the Organisation of Arab Petroleum Exporting Countries, the Organisation of Petroleum Exporting Countries, the General Agreement on Tariffs and Trade, the United Nations and the World Bank. The Gulf Cooperating Council (GCC), formed in 1981 includes Kuwait, Bahrain, Qatar, Saudi Arabia, Oman and the United Arab Emirates. The Gulf Cooperation Council aims to promote cooperation between its member states, this cooperation is in the fields of economy and industry. The GCC has succeeded in a number of areas, mainly that citizens of GCC countries can move freely amongst the six countries without the need for visas, also there are no customs duty within the GCC (on Gulf produced materials). Probably, more significantly, there is now freedom for professionals of one GCC state to work in another. In addition to being able to work and live in each other's country. Members of the GCC group of Nations are also allowed to own shares in the companies that operate in the GCC countries. IMPORT AND EXPORT REGULATIONS Only importers who are registered with the commercial registrar at the Ministry of Commerce and Industry in Kuwait may have a licence to import goods. Kuwaiti individuals can obtain an import licence. Companies which import goods or practice business as commercial agencies must fulfill the following principal condition:
The Kuwaiti shareholding in the capital of the company must be at least 51%. Objects of the company should include import, trade and commercial agency business. There are no customs duty on food and essential consumer goods while a flat rate of 4% on the CIF value is levied on virtually all other items, except where the goods are locally manufactured, the protective tariffs range upto 25%. All goods imported into Kuwait must be clearly stamped with the country of origin. All foodstuffs are subject to strict regulations covering packaging, labeling, description of contents, date of manufacture and expiry. There are restrictions on the use of certain additives and other chemical products. All food products, including samples, are subject to examination by the Municipality's Public Health Laboratories. Pharmaceutical preparations must be registered with the Ministry of Public Health. |