Add to favorite
Subscribe to our Newsletters Subscribe to our Newsletters Get Daily Updates RSS

Joining WTO, Russia to Reduce Agricultural Customs Duties
11.11.2011 20:20
Joining WTO, Russia to Reduce Agricultural Customs Duties

Russia has agreed to reduce import duties for some groups of products as part of Russia’s membership in the World Trade Organization (WTO), is said in WTO press release.


The average import duties on agricultural products are expected to fall to 10.8% against the current 13.2%, while industrial product duties will be reduced to 7.3% as opposed to 9.5% in 2011.

The organization also specified that Russia’s import duties on dairy products are to be reduced to 14.9% from the current 19.8%; import duties on grain are to be cut to 10.0% from 15.1%; while duties on imported cars should be decreased to 12.0% from 15.5%.

The Russian authorities are also to decrease import duties on timber and paper to 8.0% from the current 13.4% and reduce the duties on sugar to U.S. $223 per tonne from $243 per tonne, the WTO also said.

About 33% of newly set import duties are expected to come into effect when Russia joins the WTO, while about 25% are to be lowered in the next three years. Russia’s import duties on poultry are expected to be cut eight years after Russia gains WTO membership, while import duties on cars, helicopters, and civil aircraft would be cut in seven years.

More than that, Russia will reduce the amount of subsidies to the agricultural producers. The volume of the state support to the agricultural producers will make up $4.8 billion by 2018, the figure is twice as less than the rate planned for 2012. For comparison, France grants $15 billion subsidies to its agricultural producers.


Author: Irina Fomina

Tags: Russian business     

Next Previous

You might also find interesting:

New Refinancing Campaign for Consumer Loans Launched
Annual Fitch Conference
Sberbank Opens Data Processing Centre In Skolkovo Innovation Centre
Russian Banks Are Going to Introduce Customer Identification by Selfies
Black Friday In Russia: the Most Popular Purchases

Comment on our site

RSS   twitter   facebook   submit

Bookmark and Share

Flowers Delivery

search on the map
Russian National Football Team   Zerkalo Film Festival in Ivanovo  Alexey German Jr.  Inza  Archeology  Russian Literature  Moscow  Tver region  Tomsk  Space Exploration  Tram Monument  Russian meteorite  pharmaceutical industry in Russia  Bashkiria  Chechen republic  Professor Molchanov  Central Bank  Moscow Museums  Orsk  Painting  Fashion  Skolkovo  Russian cities  Russian ballet  Russian tourism  Russian religions  Russian Cinema  Mercedes-Benz Fashion Week Russia  Russian music  Space Monitoring System   September Electric  Museums of Kaliningrad  Kerry Ellis  Garage Art Centre  Heroism   Pskov  Sergey Storchak  Alice Krylova  Bolshoi Theatre  Anton Chekhov  Russian business  Art Moscow  Exhibitions in Moscow  business  Russian businessmen  Russian history  Oleg Divov  Russian events  the Republic of Karelia  Russian architecture 

Travel Blogs
Top Traveling Sites