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Reduction of polymers import duties in Russia will be carried out in two steps

January 13/2012

MOSCOW (MRC) -- On December 16, Russia signed an agreement on joining the WTO, and before June 15 the documents on entry to the World Trade Organization (WTO) must be ratified. For the polymers industry in Russia the reduction of import duties will be carried out in two steps, the latter of which will be completed in 2014.

On December 16, 2011 at the WTO Ministerial Conference in Geneva, Russia signed an agreement on joining the trade organization. It was signed by the Minister of Economic Development and Trade of the Russian Federation, Elvira Nabiullina. During the 220 days prior to June 15, 2012 the Russian side should ratify a package of documents on accession to the World Trade Organization, and within 30 days after notification of WTO about the completion of the ratification procedures, Russia will be a full-fledged member.

In accordance with the reached agreements, the average tariff on imports to Russia will be reduced to 7.8%, compared with 10% in 2011 for all products. For polymers industry the reduction of import duties to be held in two stages for the majority of large volume polymers, the only exception will make PET granulate. Import duties on polyethylene terephthalate will be reduced from current 5% to 4% immediately after coming of the WTO rules into force.

The reduction of import duties on polyolefins (polyethylene and polypropylene), is planned in two steps, the latter of which will be completed in 2014, and import duty will be reduced to 6.5%. Intermediate stage will be held in 2013, with the import duty to be reduced to 8.3-9.1%, depending on the grade of polyolefin. The exception will be only for a linear polyethylene, which import duty, by the contrary, will be increased to 6.5% from the current zero rate.

The reduction of import duty on high impact polystyrene and ABS is also planned in two steps, so that in 2014, import duty will be gradually reduced from the current 10% to 6.5%, as per suggestions of the regulations of WTO. The duties on general purpose polystyrene and expanded polystyrene, by contrary, are expected to be risen from zero rate to 6.5% until 2014.

Import duties for masterbatches (colours) and calcium carbonate are scheduled to decrease to 6.5% immediately after the entry into force of the WTO rules. Import duties on PET performs and BOPP film will be reduced in two stages by 2014 and reach 6.5%.

The exact dates of duties changes on polymers and polymer products will be known only after the full ratification.

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