Palestine becomes 156th contracting party to Harmonized System Convention

Palestine becomes 156th contracting party to Harmonized System Convention

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Palestine recently deposited its instrument of accession to the International Convention on the Harmonized Commodity Description and Coding System (Harmonized System) with the Secretary General of the World Customs Organization (WCO).

With more than 98% of international merchandise trade classified in terms of the Harmonized System, the WCO welcomed Palestine as the 156th contracting party to the Harmonized System Convention and said it looks forward to its active participation with respect to Harmonized System matters.

Palestine’s GDP in 2012 was $10 billion with a largely agricultural sector.  In 2011, it exported $721 million worth of goods, largely olives, fruits, vegetables, limestone, and textiles, and imported $4.2 billion.

The Harmonized System Convention will enter into force in Palestine on 1 January 2018. – WCO

Image courtesy of digitalart at FreeDigitalPhotos.net

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