WINDHOEK, June 2 (Xinhua) -- Namibia has reduced its export levy on skins and hides to bolster the country's vital livestock industry and foster local value-addition.
The move, which went into effect on May 1 but announced by the Ministry of Finance on Monday, was part of Nambia's broader policy reforms to enhance domestic industrialization, the ministry said.
The export levy on raw skins and hides has been drastically cut to 15 percent, down from 60 percent, Finance Ministry spokesman Wilson Shikoto said in a statement.
The levy on pickled skins has been reduced from 15 percent to 10 percent.
"The balanced approach ensures the availability of skins and hides for local value-addition while also allowing producers to export surplus production," Shikoto said.
The revision is intended to improve market flexibility, support revenue generation for producers, and increase the global competitiveness of Namibia's livestock products, he said.
"The ministry aims to improve the competitiveness of Namibian livestock products in regional and international markets, enhance market access, and generate employment opportunities in rural and urban areas," Shikoto said. ■
