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:

Russian Banks will get Compensation for their Lost Revenues
31.10.2018
Russian Crowdfunding Market Grew by 34% during 2018
25.03.2019
The Vkusvill Chain of Stores is Discussing the Possibility of an IPO
08.02.2019
Tinkoff Bank - the Best Online Retail Bank
11.11.2018
Running Small Businesses in Moscow and St. Petersburg is Becoming Less Profitable
23.04.2019







Comment on our site


RSS   twitter   facebook   submit

Bookmark and Share

search on the map
TAGS:
Republic of Tatarstan  Symbols of Russia  Hermitage Museum  Mercedes-Benz Fashion Week Russia  Film Distribution  Russian tourism  Moscow  public transport in Yekaterinburg  Rostov  Moscow City Museum Association  Concerts in Saint Petersburg  migration in Russia  Russian churches  Russian sportsmen  Innovations  Tourism Forum  Russian Cinema  Russian mobile operators  Dmitri Hvorostovsky  St. Petersburg  Southern Ural festival   Russian exhibitions  travel to Russia  Jail  Moisey Feigin  All-Russian Festival Of Military History Clubs  winter tours  championship  Russian football team  Russian regions  The Moscow River  Mikhail Prokhorov  airport transfers  Russian Actresses  Pussy Riot  Exhibitions in Moscow  Satellites  Television  Central Bank  Aleksey Leonov   Agnolo Bronzino  Festivals in Moscow  Russian Music Instruments  Monuments to People  Russian parliament  Pablo Picasso  Russian business  UNESCO World Heritage Site  Moscow hotels  Worker and Kolkhoz Woman 


Travel Blogs
Top Traveling Sites