Israel to ease import restrictions for retail giants

Jerusalem, March 15 (IANS) Israel has announced a plan to ease import restrictions for large global retail companies in the country.The plan aims to encourage the entry of large retail chains into Israel, which could help boost competition, reduce living costs, and advance innovation in the sector, Israel's Economy and Industry Ministry said in a statement on Tuesday.Foreign chains currently face many difficulties when entering the Israeli market, including the need to submit standard declarations for each shipment and other bureaucratic delays, Xinhua news agency reported.Under the reform, large global chains just need to declare that their products meet international standards, rather than undergo regular import inspections as long as the products are also offered in other countries.Recently, global supermarket giants such as Carrefour and SPAR have announced plans to open their first stores in Israel.
--IANS int/khz/

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