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EEC extended the validity term of lower customs duty on some types of feed for salmon fish
The Board of the Eurasian Economic Commission took a decision to extend the validity term of the lower import customs duty rate of 3% on some types of fish feed until December 31, 2023. The current rate of the Common Customs Tariff of the Eurasian Economic Union is 5% of the customs value.
"The decision is aimed at increasing the volume of commercial farming of salmon fish in the Eurasian Economic Union countries as well as developing aquaculture production," noted Vahagn Kazaryan, Director of the EEC Tariff and Non-tariff Customs Regulation Department.
He reminded that in accordance with Recommendation No. 8 of the Commission’s Board dated April 21, 2020, a set of measures for developing cooperation in the field of aquaculture was proposed for its implementation in the EAEU, affecting the renewal of the resource base of fish-breeding companies as well as the creation and development of capacities for manufacturing specialized fish feeds.
At present, the Union already has nine enterprises producing fish feed: seven of them operate in the Russian Federation, while the Republic of Armenia and the Republic of Belarus have one each. Moreover, this year it is planned to commission phase 1 of a plant that will produce 25,000 tons of feed a year. However, taking into account annual increases in fish production within the Union, the existing internally produced feed resources are still insufficient.
The decision on extending the validity term of the lower customs duty charged on fish feed takes effect after 30 calendar days have elapsed from the date of its official publication and applies to legal relations arisen since January 1, 2023.
For reference
In accordance with the Decision of the Commission's Board No. 142 dated October 26, 2021, the import customs duty rate of the EAEU Common Customs Tariff equal to 3% of the customs value was applied to the goods in question from January 2 to December 31, 2022.
