Russia to Cancel Aquatic Food Import Duties within 3 Years

[2013-09-22 16:38:26]

According to recent Russian newspaper, Russia's top fishery administrator recently indicated that Russia has started to lower the import duties on aquatic/marine food products from September 1 and the duties will reduce to zero within three years.

For that reason, Russian fishery sector will lose 4.5 billion ruble (33 ruble per US dollar) each year.

The fishery administrator suggests the government should cancel the export VAT return for non-processed aquatic/marine products so as to save 9 billion ruble of fiscal fund and to give fishery subsidy under WTO regulations, and he stresses that the government supports foreign investment into Russian far-east aquatic breeding industry which targets Chinese market.
Source: ETCN
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