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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
