Armenia should introduce duty on export of metal semi-finished products - Kerobyan

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06.02.2024, 11:51

Armenian Economy Minister Vahan Kerobyan today called for introducing a duty on exports of metal semi-finished products.

Armenia should introduce duty on export of metal semi-finished products - Kerobyan

YEREVAN, February 6. /ARKA/. Armenian Economy Minister Vahan Kerobyan today called for introducing a duty on exports of metal semi-finished products.

"The government imposed a ban on ferrous scrap exports in 2021, which led to the attraction of investments in this sphere. In addition, 750 new jobs were created and 4 new factories were founded," Kerobyan said at a parliamentary session presenting a draft law on amendments and additions to the law on State Duty.

According to the minister, the export duty on metal semi-finished products will stimulate the production of finished products.

In addition, the amendments provide for the introduction of a duty on the export of gold, platinum and palladium ingots in the amount of about 0.8-1% of their market value.

"A significant growth has been recorded in this sphere recently and it should be regulated," Kerobyan emphasized. He specified that Armenia does not produce gold bars, the amendments concern only international trade.

According to the Minister, the proposed amendments should come into force on January 1, 2025. -0-

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