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EAEU re-grants Jordan, Lebanon and Samoa status of countries using unified system of tariff preferences
The Eurasian Economic Commission's Council amended the lists of developing and least developed countries using the unified system of tariff preferences of the Eurasian Economic Union.
Namely, the Council updated the list of States to which the EAEU unilaterally grants tariff preferences in the form of reduced or zeroed out import customs duty rates on a number of goods.
The adopted decision is based on the analysis of changes in economic indicators and includes Jordan, Lebanon and Samoa in the category of developing countries using the EAEU unified system of tariff preferences (until 2021 they already had been beneficiaries of the Union's system).
In addition, in the light of the World Bank's updated country income classifications, it was decided to exclude the Republic of the Marshall Islands and the Republic of El
Salvador from the system and to revise the preferential status of the Kingdom of Bhutan and the Democratic Republic of Sao Tome and Principe from least developed to developing.
"Today's decision is a continuation of the EEC's consistent work to administer the Union's unified system of tariff preferences and will contribute enabling economic growth of developing and least developed countries, as well as further increase trade of the EAEU Member States with them," mentioned Andrey Slepnev, Minister in charge of Trade of the Eurasian Economic Commission.
In accordance with the Decision of the EEC Council, appropriate transition periods are provided to adapt economic operators to the changing conditions of foreign trade activities.
The lists of countries using the EAEU unified system of tariff preferences were approved by Decision No. 130 of the Customs Union's Commission dated November 27, 2009.
The list of goods originating from developing or least developed countries, in respect of which tariff preferences are granted upon importation into the EAEU customs territory, was approved by Decision No. 8 of the Eurasian Economic Commission's Council dated January 13, 2017.
