Translated by Sabrin Qadah 

The Harmonized System for goods Classification is a defining name of a multi-purpose international system prepared by the World Customs Organization, which aims to facilitate trade and the exchange of information by coordinating the classification of goods in international trade.

The Ministry of Finance announced, on Tuesday, that it has left with the Secretary-General of the World Customs Organization Kunio Mekoraa, the document of Palestine's accession request to the International Convention for the coordination, Commodity Description and Coding system known as the "HS".

This came during a meeting that gathered the Director General of Customs and VAT, Louay Hanash, and the Secretary-General of the World Customs Organization in Brussels last weekend.

The Finance Ministry said in a statement: "Given that more than 98% of international merchandise trade is classified according to the Harmonized System, the World Customs Organization welcomed the admission of Palestine as a contracted No.156, looking forward to its active and effective participation in relation to the Harmonized System issues.

The "HS" convention will enter into force in Palestine starting from next year.