Eurasian Economic Commission Ups Electro-Motor Import Duty

Interfax Moscow news of February 6: the Eurasian Economic Commission has decided to temporarily raise the import duty rate to 5% on the electro-motors with output power over 7500w but within 37kw (HS Code 8501523000), effective from 10 days later till December 31, 2015.

This kind of motor is mainly used in the manufacture of wood processing machines, pumps, fans, sewing machines, electric meat grinder and electric juicer, and so on.

Reportedly, such electro-motors are being imported more and more into the customs union territories in recent years, with 80% from China, Germany and Sweden. The import value rose by 52% YOY in 2011, by 28% YOY in 2012 and by 28.8% YOY in 2013. The hike of the import duty aims to protect the internal manufacturers, which are mostly located in Russia and Belarus.