EAEU temporarily zeroes duties on fiber-forming polyethylene terephthalate

The Eurasian Economic Commission’s Council adopted a decision to make a separate heading of the EAEU Customs Code for fiber-forming polyethylene terephthalate and establish an import customs duty at the rate of 0% for a period of 1 year. Along with that, goods in new heading will be classified only if the Member State’s authorized body confirms their intended purpose. Polyethylene terephthalate is a thermoplastic industrial polymer used for manufacturing fibers and threads (fiber-forming polyethylene terephthalate), films (film polyethylene terephthalate), plastic containers of various types and purposes (bottle polyethylene terephthalate).

"The film and bottle polyethylene terephthalate are manufactured in the Eurasian Economic Union. At the same time, fiber-forming polyethylene terephthalate used by manufacturers of polyester industrial thread and polyester industrial fabrics, is generally purchased in China", noted Vahagn Ghazaryan, Director of the EEC Tariff and Non-tariff Customs Regulation Department.
He has clarified that adopting customs tariff regulation measures will increase capacity utilization of enterprises manufacturing goods from fiber-forming polyethylene terephthalate, as well as increase their competitiveness as compared with foreign analogues.
"Simultaneously, consumers of fiber-forming polyethylene terephthalate expressed their readiness to establish cooperation ties with internal manufacturers to organize output of required quality and mutually beneficial cooperation", the Director of the EEC Department added.
The decision shall come into effect after 10 calendar days have elapsed from the date of its official publication.