ARMENIAN GOVERNMENT DECIDES TO INCREASE RATES OF CUSTOM DUTIES FOR IMPORT OF FINISHED PRODUCTS

ArmInfo
2009-02-12 14:30:00

ArmInfo. To support the local producer, the Armenian government has
decided to increase the rates of custom duties for import of the
finished products to the republic up to 15%.

This draft alteration in the Customs Code of Armenia was approved at
today’s governmental session and is one of the anti-crisis measures,
Economy Minister of Armenia, Nerses Yeritsyan, said when introducing
the draft legislative alteration.

He also added that 15% is a maximum admissible rate for Armenia as the
country is WTO member and has no liabilities to this organization. He
explained that a zero customs duty is imposed on many goods being
imported to Armenia so far. The minister added that it is scheduled to
shortly publish a list of the goods and groups of goods the customs
duties on which will be increased. According to the minister, the
customs duties should be increased first of all on the goods which
are produced in Armenia and compete with import analogues. Thus,
import-replacement will be stimulated in Armenia, N. Yeritsyan said.