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Switzerland abolishes customs duties on clothing & shoes

*.*pt"> Switzerland has announced the abolition of customs duties on a range of products, including clothing, shoes, and various industrial goods such as capital goods, raw materials, semi-finished products and machinery from all countries. The policy change, that came into effect on January *, ****, is set to significantly impact the country&#**;s manufacturing and import sectors. 

*.*pt"> The Federal Council of the Swiss government notified that the exemption from customs duties is expected to yield annual benefits exceeding CHF *** million. This financial relief comes in the form of direct savings of CHF *** million for companies, alongside a reduction in administrative burdens estimated at CHF *** million. Additionally, Swiss companies are projected to experience productivity gains of around CHF *** million.