Finance Minister Avigdor Lieberman signed a decree yesterday (Sunday) canceling the payment of customs duties on vehicles imported from South Korea. In spite of this, in a conversation with Kan News that was broadcast on the program “The Color of Money” on Kan Network B with sales representatives of Yunadi and Kia, it became clear that the prices did not decrease. One of the representatives said: “The good news is that the price will not increase.”
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Lieberman announced that he signed a decree that cancels the customs duty on industrial and agricultural products imported from South Korea. This follows a free trade agreement that was signed between the state and Israel in March of this year and its purpose was to bring a discount to consumers. According to the order, it is expected that the customs imposed on the import of vehicles at the rate of 7% and on the import of air conditioners at the rate of 12% will be abolished.
Following the signing of the agreement, an inspection was conducted by Khan News with sales representatives of Hyundai and Kia, vehicle models coming from the Asian country. The two representatives reiterated that the cancellation of the customs duty is not reflected in the price for the customer because the manufacturers raised the price on their part. One of the representatives said: “Instead of lowering the price by ten thousand shekels, and increasing it again, then the price will remain the same. The good news is that the price will not increase.”
About three months ago, the Minister of Finance signed an order to cancel the customs duty on the import of a range of food products, as part of the fight against rising prices in the economy. This is against the backdrop of the expected January increase in electricity prices, and after the Bank of Israel raised the interest rate about two weeks ago for the sixth time in a row, in order to fight inflation.