Russian Customs Union Lowers Underwear Materials Import Duties

According to Interfax news, the Eurasian Economic Community commission has decided to lower the import duty rates to 3% from previous 10-15% on some embroideries made of chemical fibers and knitwear (including knit laces), which are mainly used for underwear production.

The reduction of the import duties is conducive to decrease in costs of the underwear makers, with their surplus fund usable for equipment renewal and production increase.