Economy: Practical Measures to Combat Local Market Flooding and Enhance Competitiveness

SadaNews Economy - The Ministry of National Economy announced today, Wednesday, that a set of executive measures to combat the flooding of the local market with low-value and low-specification products, approved by the Cabinet, has come into effect.

The Ministry confirmed that policies and procedures for market control, prepared by a national team including specialized ministries, representatives from the private sector, and financial and economic experts, include practical steps to enhance the share of national products in the local market and increase Palestinian exports, particularly in the clothing, footwear, stone, cleaning products, and food sectors as a first phase.

These measures include tightening customs control, prioritizing tax recovery for the national industry, specific procedures regarding specifications and standards, public purchasing, as well as policies to support and encourage industrial investment, facilitate registration and licensing procedures, resolve disputes, and provide preferential rates for energy and water allocated to the industry, among other practical and direct measures.

Ibrahim Al-Qadi, Director General of the Consumer Protection Department at the Ministry of National Economy, stated that the approved policies "practically serve the private sector and enhance the competitiveness of the national industry through organized government intervention and an effective role for the private sector."

Al-Qadi added that an executive plan for each proposed policy will be presented next week, with implementation set to begin in mid-October, confirming that the policies are "balanced, achieving justice between local and imported products while safeguarding consumer interests. "

He noted that some of the new policies involve issuing mandatory technical instructions that consider the Palestinian environment and local consumer culture, in addition to restrictions on the export or import of certain sensitive products such as olive oil and Palestinian stones, encouraging the substitution of imports with local products, as well as the mandatory inclusion of national products in government and professional tenders and national institutions.

Al-Qadi anticipated that the implementation of these policies would raise the share of national products in the Palestinian market by 15-20%, in addition to providing new job opportunities and opening up avenues for investment in the Palestinian market.