The European Parliament approved the exemption from custom duties for two hundred products imported by the Azores, thus granting a request by the Government of the Azores.

This exemption from duties will be in force until the year 2019 with the purpose of reinforcing the competitiveness of the local economic operators as well as of ensuring the stability of employment.

According to the proposal approved on Wednesday, the exemption from custom duties will comprise a large number of products that are of great importance for agricultural, trade and industrial sectors, such as fertilizers, iron and other steel products, machinery and equipments for various activity sectors.

In order to ensure that imported products, whether raw materials, pieces or finished products, do not distort competition, they will be subject to controls that guarantee their use by local companies on the islands for a period of at least two years before they can be sold to companies located elsewhere in the European Union (EU).