Cost of used cars likely to jump threefold after Armenia’s accession to customs union – union of cars importers

Cost of used cars likely to jump threefold after Armenia’s accession to customs union – union of cars importers

YEREVAN, February 12. / ARKA /. The cost of used cars in Armenia is very likely to jump threefold after Armenia's accession to the Russia-led Customs Union, according to Tigran Harutyunyan, the chairman of the Union of Car Importers of Armenia. 

Speaking at a news conference he said under Russian law cars older than 5 years are imported at a tax rate of 5 euros per cubic centimeter of engine.

He said the current customs clearance of such cars worth $1,200 will then soar to $6,000-$9,000. 

‘This means that 10 -15 -year-old cars now sold here at $5,000-$5,500, will cost $15,000,’ he said.

He added that car importers are not against Armenia's membership in the Customs Union, but urge the government to be careful in this matter and take into account their interests when negotiating with the trade bloc’s members. According to him, some 15,000 people in Armenia are involved in car imports.

He said Belarus was given a two-year preparatory period after it joined the Customs Union before to raise its  duties on imported cars.

Earlier, Armenian economy minister Vahram Avanesyan said Yerevan proposed that the Customs Union  allow it to levy the current import duties on some 800 items of goods , including medications and cars, which are much lower than the duties applied by the trade bloc. -0-
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15:34 12.02.2014

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