Belarus canceled export duties

Rusmet reported that Belarus cancelled export customs duties for all kinds of commodities except oil and oil products.

According to the report, this document cancels the decree N 700 "About export customs duties" if 31 December 2007 regarding the commodities exported from Belarus customs territory to beyond the countries the members of Eurasian Economic Community.

The Foreign Ministry explained that export duties cancellation will let Belarusian exporters keep more working assets. It will allow manufacturing and export of more competitive products. The companies will be able to decrease the prices and raise competitive ability. The duties cancellation is aimed at support of domestic exporters in the crisis conditions. Besides, international experience shows that duties changes in other countries are rather limited and valid to several kinds of commodities only.

In Belarus export duties acted towards some raw materials including ferrous and non-ferrous scrap metals and precious metals. According to the calculations made on the basis of export in 2008, duties cancellation will allow the companies saving about BYR 10 billion.



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