Russia may Cut Automobile Import Duties by 5% in 2012

Russia will lower import duties on new-type automobiles to 25% from 30% when joining the WTO, said the head of the Department of Trade Negotiations under the Ministry of Economic Development of Russia, Maxim Medvedkov.

At present, this duty is 30% of the cost of the imported automobiles. When joining the WTO, it will be possibly lowered to 25% in 2012. And it will be further reduced to 15% within the next 7 years.

Medvedkov reminded that the next meeting of the working group on negotiations on Russia's accession to the WTO will be held at the end of March. Russia and relevant negotiating parties of the WTO have not yet discussed seven sections of the negotiation program, including the issue of quotas on imports of poultry and pork to Russia from the WTO.