News
24.11.2021
The EEC Board has extended the zero duty charged on certain types of vanadium aluminum alloy until the end of 2022
The Board of the Eurasian Economic Commission decided to extend the validity term of import customs duty rate of the Common Customs Tariff of the Eurasian Economic Union in the amount of 0% for certain types of vanadium aluminum alloy until December 31, 2022 inclusive.
Vanadium aluminum alloy is used in manufacture of titanium alloys as an alloying component. Its main consumers include metallurgical enterprises that use these raw materials in the manufacture of products for the aerospace industry.
"The share of vanadium aluminum alloy cost in the price of titanium alloys is about 30%. The tariff exemption significantly contributes to reducing manufacturing cost price and maintaining the competitiveness of titanium produced in the EAEU," Vahagn Ghazaryan, Director of the EEC Customs Tariff and Non-Tariff Regulation Department noted.The measure is applied on a temporary basis until the relevant production is organized on the territory of the Eurasian Economic Union.
The decision will enter into force on January 2, 2022.
For reference
By the decision No. 113 of the EEC Board dated July 9, 2019 on vanadium aluminum alloy, the import customs duty rate is set in the amount of 0% for a period until December 31, 2021.
By the decision No. 113 of the EEC Board dated July 9, 2019 on vanadium aluminum alloy, the import customs duty rate is set in the amount of 0% for a period until December 31, 2021.
