Armenian government approves duty-free quotas for imported Vietnamese long-grain rice
12.07.2019,
11:25
The Armenian government approved Thursday duty-free quotas for imported Vietnamese long-grain rice. Economy Minister Tigran Khachatryan said that the agreement on duty-free import of rice from Vietnam to the Eurasian Economic Union member countries has come into force on January 1, 2016. The agreement implies that the import of up to 10,000 tons of long-grain rice a year is free from customs duty.
YEREVAN, July 12. /ARKA/. The Armenian government approved Thursday duty-free quotas for imported Vietnamese long-grain rice. Economy Minister Tigran Khachatryan said that the agreement on duty-free import of rice from Vietnam to the Eurasian Economic Union member countries has come into force on January 1, 2016. The agreement implies that the import of up to 10,000 tons of long-grain rice a year is free from customs duty.
In 2017, the rate was set at 6%, and in 2021 and 2022 it is expected to rise to 8 and 10 percent respectively.
“Before the end of 2018, Armenia enjoyed transitional preference, which implied no duty at all, while in 2019, a 3-percent rate will be applied, but not for preferential volumes,” Khachatryan said adding that the preferential 10,000 tons are distributed among the union countries.
In his words, Armenia applied for a preference quota of 150 tons, since the country imports 130 tons of long-grain rice in the total volume of 9,700 a year.
Khachatryan said 150 tons will be distributed among economic entities. In particular, 70% of the volume will be distributed among the economic entities which had been engaged in importing rice in the last three years, taking into account their shares at the market, and the remaining 25 % will be distributed among new applicant entities.
“If nobody applies before September 10, this will be offered to already operating entities,” the minister said. -0---
In 2017, the rate was set at 6%, and in 2021 and 2022 it is expected to rise to 8 and 10 percent respectively.
“Before the end of 2018, Armenia enjoyed transitional preference, which implied no duty at all, while in 2019, a 3-percent rate will be applied, but not for preferential volumes,” Khachatryan said adding that the preferential 10,000 tons are distributed among the union countries.
In his words, Armenia applied for a preference quota of 150 tons, since the country imports 130 tons of long-grain rice in the total volume of 9,700 a year.
Khachatryan said 150 tons will be distributed among economic entities. In particular, 70% of the volume will be distributed among the economic entities which had been engaged in importing rice in the last three years, taking into account their shares at the market, and the remaining 25 % will be distributed among new applicant entities.
“If nobody applies before September 10, this will be offered to already operating entities,” the minister said. -0---
