Stable with slight increase due to infrastructure projects
Special Rates
Preferential Rate
0%
Applicable under specific trade agreements or for development projects with prior approval from the Ministry of Commerce.
Additional Information
No additional information available.
Last updated: 1 year ago
News and Updates
Recent News
US Increases Export of Bitumen Mixing Machinery to Somalia
The United States has seen a surge in exports of machines for mixing mineral substances with bitumen (HS Code: 8474.32) to Somalia, driven by infrastructure development projects in the region.
2023-10-15
Impact: This increase in exports is expected to strengthen trade ties and support Somalia's construction sector, potentially leading to higher demand for US machinery.
Somalia Seeks US Technology for Road Construction Equipment
Somalia's government has expressed interest in acquiring advanced bitumen mixing machinery from the US to support ongoing road rehabilitation programs.
2023-09-20
Impact: This interest could lead to new trade agreements and an uptick in US exports of specialized machinery to Somalia.
Recent bilateral trade discussions between the US and Somalia included a focus on exporting machinery for mixing mineral substances with bitumen, as part of broader economic cooperation.
2023-08-05
Impact: These talks may facilitate smoother export processes and potentially lower trade barriers for US manufacturers.
Policy Updates
US Revises Export Controls on Construction Machinery
The US Department of Commerce has updated export control policies for certain construction machinery, including machines for mixing mineral substances with bitumen (HS Code: 8474.32), easing restrictions for exports to select African nations, including Somalia.
Date: 2023-09-10
Somalia Introduces Import Tariff Reduction on Industrial Machinery
Somalia's Ministry of Commerce announced a reduction in import tariffs on industrial machinery, including bitumen mixing equipment, to encourage infrastructure development and foreign trade.