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EEC zeroed import duty rate on dried coconuts for confectionery industry

EEC zeroed import duty rate on dried coconuts for confectionery industry

10/20/2020
The Board of the Eurasian Economic Commission has reduced the rate of import customs duty on dried coconuts from 3% to 0% for a period of three years. The decision was adopted following the consideration of the initiative proposal of the Russian Federation.

Dried and shredded coconuts (coconut flakes) are used in the production of certain types of flour confectionery, in particular, cakes, pastries, and cookies. Given that coconut palms do not grow on the territory of the Eurasian Economic Union Member States due to the natural and climatic conditions, the need for coconut flakes is met through imports.

The decision adopted is aimed at reducing the cost of manufacturing finished products, increasing the share of products using coconut flakes, as well as strengthening the position of domestic confectionery enterprises in export markets.

“Decreasing import customs duty rate for dried coconuts is expected to help restore the manufacturing of confectionery products in the Member States, which showed a decline amid the pandemic,” noted Vahagn Ghazaryan, Director of the EEC Department for Customs Tariff and Non-Tariff Regulation.

The Decision shall come into effect after 30 calendar days have elapsed from the date of its official publication.​