- Sputnik International
Russia
The latest news and stories from Russia. Stay tuned for updates and breaking news on defense, politics, economy and more.

Russia set to lower import duty on booze to 12.5% after WTO deal

Subscribe
MOSCOW, June 23 (RIA Novosti) - Russia will cut customs duties on alcoholic beverages imported from non-CIS countries from 20% to 12.5% after its accession to the World Trade Organization, an economics ministry official said Friday.

"The import duties on alcohol will be gradually lowered to 12.5% over three years," said Andrei Kushnirenko, a deputy head of a department on trade negotiations at the ministry.

He said that alcohol imports would increase after Russia joined the WTO, but lowering import duties would not affect the price of imported alcohol because the duty component in the price structure is insignificant.

The official also said that 90% of alcohol produced by member countries of the Commonwealth of Independent States - a loose alliance of ex-Soviet republics - is imported without customs duties and the trend will continue in the future.

"Our accession to the WTO will not change anything," Kushnirenko said.

Russian officials have said that they hope to join the WTO by the end of the year.

Newsfeed
0
To participate in the discussion
log in or register
loader
Chats
Заголовок открываемого материала