Gambia Trade Policy
The Trade Policy for The Gambia: Proposal Towards a New Trade Regime
The Gambia has an open-door, liberal trade policy. The country is seeking an export led growth through value added productivity and, to that end, the government is committed to elimination of tariff and non tariff barriers. There are no quantitative restrictions on imports and tariffs have been reviewed and lowered. Consequent upon this review a tariff rationalisation has been effected and includes tariff reduction to a maximum of 18% and the reduction of tariff bands to four (4) economic groupings. Tariff levels in The Gambia will be subject to further review in order to ensure that The Gambia remains competitive.
Tariff Regime in The Gambia
The tariff regime of The Gambia is based on the Harmonized System (HS). Only eight (8) of the tariff lines are specific, whiles the rest are all ad-valorem rates. Most rates are below 30%,and only 0.5% of all the lines have a rate which exceed 40%.
The current tariff rates range from 0% (duty free) for some capital equipment, raw materials and goods imported by the government, to 90% on luxury goods. There are 31 rates in the HS-tariff schedule. There still exists much scope for refining certain areas of the tariff regime in order to evolve a more competitive schedule towards improved and liberal trade development in The Gambia.