The United Arab Emirates has decided to apply a country-wide lifting of customs duties on cement and steel.
The move comes days after His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai, issued a decree ordering a temporary lifting of the levies in the emirate to control rising costs for building materials.
“Sheikh Mohammed ... issued a cabinet decree to widen the exemption of cement and steel from any customs duties in all parts of the state,” local press reported.
The decision is aimed at “stabilising the real estate market and the construction boom, and to reduce the burdens of contractors.”
It did not say if exemption was also temporary.