Armenia’s import taxes on 60% of Russian goods to drop after joining CU – minister

Armenia’s import taxes on 60% of Russian goods to drop after joining CU – minister

YEREVAN, March 31. /ARKA/. Import taxes on 60% of Russian goods will fall after joining the Customs Union, Armenian minister of finance David Sargsyan said.

This will have a positive impact on pricing, Sargsyan said at a conference on CU membership Saturday.

The second advantage of the CU membership, according to the minister, is the GSP+ regime for some 10-11 goods between Armenia and the EU. Companies from other CU-member countries not having this regime may be attracted to Armenia and export their goods from here, Sargsyan said.

Yet, some infrastructure problems occur in joining the CU, such as licensing of customs brokers, transportation, need for temporary storages and duty-free shops, the minister said.

Apart from that, small companies planning to arrange customs warehouses or getting a customs broker’s license may face problems as the procedure is very strict, he said.

Armenia is currently negotiating over a transition period of up to two years to delay application of these rules, the minister said. –0—

15:55 31.03.2014

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