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146 CHAPTER 6


Table 6.4 Tariff equivalents of quantitative restrictions and tariffs on agricultural products in Syria, 2004 (percent)


Tariff equivalent of Sector


Fish products (SITC 03) Fruits and nuts (SITC 057)


Other food, live animals, oils, fats,


and waxes (rest of SITC 0–4) Tobacco and beverages (SITC 1)


Source: Chemingui and Dessus (2004). Note:


quantitative restrictions 3.9


27.4 19.9


309.3 SITC, Standard International Trade Classification.


rate system in trade finance and (2) cumbersome customs procedures and inefficient trade logistics.3


Syria’s import (and export) regime is complicated and rendered nontrans- parent because of the multiple exchange rates for private and government entities. The exchange rate system in Syria has been tightly managed, with a total of 11 rates applied for different transactions. In the 1990s, many of these rates were unified, most recently in 2002, when the three exchange rates used for the valuation of imports were harmonized and, in 2004, with the unification of the rate used for budget calculations with the rate applied to other public sector operations.


Until 2007, there were three exchange rates:


• the official rate, determined by the Central Bank of Syria, valued at 46.5 Syrian pounds (SYP 46.5) per US$1, which was used by the public sector for imports;


• a free market rate, approximately SYP 53 per US$1, which was determined by supply and demand mainly on the Beirut foreign exchange market and was used for both commercial and noncommercial purposes; and


• the so-called export proceeds rate, valued at SYP 51 per US$1, which was used to value foreign exchange that exporters are required to surrender.


As a result, imports were implicitly subsidized at different rates depending on the end user, while exports were implicitly taxed by an overvalued exchange


3 The term technical barrier to trade used here does not perfectly match the international definition. In particular, the multiple exchange rate system in place may also be considered a nontariff measure because it directly affects the price of imports and exports. But because it also entails additional transaction costs, one is equally justified in considering it a technical bar- rier to trade.


Tariffs on


agricultural products 19.5


54.0 7.8


110.1


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