The Eurasian Economic Union has decided to set a zero rate on import customs duties for certain types of mineral raw materials containing precious metals or their compounds. 

This measure will be in effect until 31 December 2027.
According to Vahagn Ghazaryan, Director of the Department of Customs-Tariff and Non-Tariff Regulation of the Eurasian Economic Commission, the EAEU domestic market is experiencing a shortage of sources of raw materials needed to fully utilise production capacities.

"Given the economic restrictions in place for some EAEU states, businesses are starting to build systems for supplying products from new partner countries. However, the need to pay import customs duties makes such supplies unprofitable,’ he said.

The new measure of customs and tariff regulation is aimed at eliminating these restrictions and supporting the processing and refining sectors. It should also help to increase the utilisation of production capacities and improve the competitiveness of enterprises. Before the decision, duties on imports of these goods ranged from 3% to 15%.

Earlier, the EAEU had already introduced zero rates on imports of mineral raw materials within the decisions of the Commission's collegium of 2016, 2018 and 2021. The EEC Council also amended other acts of the Commission to further support this initiative.