Eurasian Economic Union to maintain zero tariff on imports of some goods

International Business News – The Eurasian Economic Union has extended the period of zero tariffs and tariff preferences on some types of important imports until March 31, 2023, the measure has been approved by the Eurasian Economic Commission (EEC) Council, HACN reports. The decision on a number of projects within the competence of the Eurasian Economic Commission Council will be taken in the coming period.

Eurasian Economic Union Trade Minister Andrey Slepnev said that despite the positive effect of the tariffs and tariff regulation measures taken in the spring, there are still some sensitive goods for which the tariffs were zeroed or tariff reductions were extended for six months. A quarter of the goods on the initial list are discussed here.

It should be noted that the extension measures will affect some raw materials: pharmaceutical and chemical products, varnishes, dyes, textile and leather processing agents, certain types of adhesives and starches, plastics, rubber and rubber products, some cellulose products, raw wool, cotton and flax, chemical fibers, yarns and fibers. The list will also include some manufactured products, such as pharmaceuticals, medical devices, and laboratory research reagents.

These measures will apply to legal relations arising from October 1, 2022.

Previously, the Eurasian Economic Union Commission set import duties on 1307 items at zero rates until September 30, 2022. The measure provides support for consumers of finished products and import-dependent producers, the source said.