The Eurasian Economic Commission’s Board has decided to extend until June 30, 2023 the validity of zero import customs duty rates for certain types of components for manufacturing handheld power tools.
"The customs tariff regulation measure is aimed at improving the competitiveness of manufacturers of handheld power tools in the Eurasian Economic Union countries, increasing the volume of output products and expanding their variety", noted Natalia Samoilova, Deputy Director of the EEC Tariff and Non-tariff Customs Regulation Department.
She has clarified that the said components are not manufactured in the EAEU territory nowadays. At the same time, given the existing production capacities enabling to organize production of certain types of components, arrangements have been reached to address the issue of establishing cooperation between the Union countries on manufacturing handheld power tools.
It is planned to extend the validity of the EEC Board’s decision to legal relations arisen since July 1, 2022 to ensure the continuity of applying zero rates of import customs duties. Relevant amendments will be made to other Commission's acts as well.
The handheld power tools include drills, perforating devices, screwdrivers and impact wrenches, threading and grinding machines, sharpening and polishing machines, saws, knives and scissors, planning machines, and hammers.
In accordance with Decision No. 44 of the EEC Board dated April 7, 2020, a separate heading was made in the CN FEA of the EAEU for individual components for these types of products (if the intended purpose of the imported goods is confirmed by the authorized body), and zero rates of import customs duties were established in relation thereto for the period from June 5, 2020 to June 30, 2022.