2007 budget: Ministry of Finance proposes the removal of import barriers

Sources closed to the Ministry noted that a proposal had been included that the ministers of Finance and Industry, Trade and Labor will set binding directives for the Standards Institution of Israel

The Ministry of Finance said last week that it had proposed to incorporate in the 2007 economics arrangement bill the removal of many existing import barriers and the simplification of the licensing processes for imports.
 
Sources closed to the Ministry noted that a proposal had been included that the ministers of Finance and Industry, Trade and Labor will set binding directives for the Standards Institution of Israel (SII) to sign reciprocal recognition agreements with recognized and authorized foreign Standard Institutes and foreign testing laboratories.
 
This means that if the proposal is accepted, the Israeli Standards Institution will be required to recognize quality, electrical and mechanical tests conducted by approved foreign laboratories.
As a result, importers will not have to carry out additional highly expensive standards testing at the Standard Institute when importing goods.
 
The proposal mandates the ministers of finance and industry to formulate recommendations by January 1, 2007, for the lifting of standards barriers on imports, and will complete them by April 1, 2007.