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14.09.2021 (Обновлено: 07.07.2022 11:53)

Updated version of EAEU CN of FEA and EAEU CCT to come into effect on January 1, 2022

The seventh edition of the Harmonized Commodity Description and Coding System (HS) which is the international basis for the Unified Commodity Nomenclature of Foreign Economic Activity of the Eurasian Economic Union (EAEU CN of FEA) will come into effect on January 1, 2022.

The 2022 HS edition is the result of another five-year cycle of comprehensive revision of the nomenclature being conducted by the World Customs Organization (WCO) on an ongoing basis. According to the WCO, the new HS edition contains more than 350 series of amendments due to changes in the nature and structure of world trade and social and environmental issues of a global nature.

During 2020-2021, the Eurasian Economic Commission actively worked on making the common Commodity Nomenclature of Foreign Economic Activity and the Common Customs Tariff of the Eurasian Economic Union (EAEU CCT) consistent with the international framework.

On September 14, the Commission’s Council approved updated version of these documents.

"Along with that, the rates of import customs duties in the updated EAEU CCT, which will start to be applied from January 1 next year, have been preserved at the current level and fully take into account the tariff obligations within the World Trade Organization," stressed Andrey Slepnev, EEC Minister in charge of Trade.

Simultaneously with approving the updated version of the EAEU CN of FEA, the Commission works on updating the Union’s law.