25 Jun 2024 EAEU to zero out import customs duty on coconut flakes for three years The Board of the Eurasian Economic Commission decided to zero out the import customs duty on dried coconuts (coconut flakes, code 0801 11 000 0 according to CN of EAEU) for the period until July 31, 2027 inclusive. “The customs tariff regulation measure aims to reduce costs, develop the exports of confectionery products from the Eurasian Economic Union countries, and increase their competitiveness in foreign markets,” Andrey Slepnev, EEC Minister in charge of Trade, noted. He recalled that coconut palms do not grow in the EAEU due to natural and climatic conditions, so coconuts are not produced. Thus, the need for coconut flakes is fully met through imports. The current rate of the CCT EAEU import customs duty for coconut flakes amounts to 3%. The decision shall come into effect after 30 calendar days have elapsed from the date of its official publication. Dried and shredded coconuts (coconut flakes) are a product of coconut processing used mainly in confectionery products: chocolates, sugary confectionery, cakes, pastries, cookies, and other similar products. About 20% of the volume of imported coconut flakes is consumed by other industries (perfumes, cosmetics, pharmaceuticals). In accordance with Decision No. 131 of the Commission Board dated October 20, 2020 and Decision No. 80 of the Commission Council dated September 14, 2021, a temporary rate of import customs duty equaling 0% of the customs value was applied to coconut flakes from November 22, 2020 to December 31, 2023.
20 Jun 2024 EEC representatives discussed UNCITRAL toolbox for minimizing and preventing negative consequences of global crises On June 20, representatives of the Eurasian Economic Commission's Trade Policy Department, jointly with the Legal Department of the Ministry of Economic Development of the Russian Federation, held an event dedicated to legal measures to mitigate the negative consequences of crises, with an emphasis on the tools of the secretariat of the United Nations Commission on International Trade Law (UNCITRAL). According to Vladimir Serpikov, Director of the EEC Trade Policy Department, issues of overcoming the negative consequences of various crises are of interest and particular significance for the Eurasian Economic Commission: “We recognize the significance of the research conducted at the UNCITRAL site and its potential for creating solutions to cope with crises and ensure sustainability of the Union's economy. I am confident that this event will help strengthen our cooperation in legal regulation.” Lev Gershanok, Director of the Legal Department of the Russian Ministry of Economic Development, said that at the 53rd session of the UNCITRAL Commission held in 2020, Armenia, Russia, and Vietnam made a proposal to work with anti-crisis measures in the context of the UNCITRAL’s ability, through its codification and capacity-building activities, to help fill potential legal gaps arising amid crisis. He emphasized that “the results of UNCITRAL’s work have been proving their efficiency for years. And their systematization through the prism of an anti-crisis response provides an additional opportunity to ensure the sustainability of international trade.” In her welcoming speech, UNCITRAL Secretary Anne Joubin-Brett emphasized the significance of the work carried out under the above-mentioned initiative. UNCITRAL representatives spoke about research on the impact the COVID-19 pandemic had on international trade law. The UNCITRAL legal toolkit includes information on the pandemic consequences and the response measures taken by states in this regard. It also includes UNCITRAL documents to be used during global emergencies, including a model law on electronic commerce and a model law on electronic signatures adopted in July 2022. Particular attention is paid to the impact the crisis has on small and medium-sized enterprises, bankruptcy issues, and public procurement procedures. Besides UNCITRAL representatives, the event was attended by interested experts from the EEC and EAEU States. Link to the event record: https://youtube.com/live/qYB3qVMenQk?feature=share
11 Jun 2024 EEC held seminar on applying counter trade procedures The application of counter trade procedures was discussed in the Eurasian Economic Commission at a seminar moderated by Andrey Slepnev, EEC Minister in charge of Trade. The event was primarily focused on discussing practical issues of organizing counter trade, including counter trade transactions at the current stage with key trading partners, and removing possible obstacles. "As part of the work on implementing joint export support measures of the Eurasian Economic Union, the EEC Trade Unit studies the demand for and possibilities of creating new tools to assist the Member States' businesses in entering and operating in third markets. Full-fledged implementation of this idea, which was suggested, inter alia, by the EAEU Business Council and at the SPIEF, is impossible without taking into account the experience of professionals who study and have experience in conducting counter transactions, in particular, barter and clearing operations," Andrey Slepnev noted, opening the seminar.  He emphasized that there is a current demand for trade facilitation in the new environment. Moreover, this demand is not due to sanctions against some EAEU countries, but is primarily associated with active entry into new markets, each of which has its own characteristics. Besides export promotion, special importance is attached to the diversification of import deliveries. "In this regard, a more advanced infrastructure should be built. We are interested in a detailed study of the existing practice of counter trade to identify promising tools that we could apply today in order to meet the challenges we face," Andrey Slepnev added. The event brought together representatives of the academia and business community with up-to-date knowledge and practices in the field of counter trade with third countries.  
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