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Eurasia temporarily implements zero tariffs on waste precious metals and lead ore.
Release time:
05 May,2015
The Eurasian Economic Commission announced at a press conference that it will temporarily implement zero tariffs on scrap precious metals and lead ore.
The zero tariff will be in effect from May 25, 2015 to May 24, 2017. According to the Minister of Trade of the Eurasian Economic Commission, Mr. Slepnev, lead ore and lead concentrate are raw materials for the production of refined lead. Currently, the cost of raw materials is generally higher than the cost of finished products. Implementing zero tariffs will help reduce costs and improve production efficiency.
He stated that currently, lead concentrate is mainly produced by enterprises in Kazakhstan, Russia, and Tajikistan, but this is far from meeting market demand. Most lead concentrate is produced in South America, such as Guatemala, Peru, and Mexico. Mr. Slepnev introduced that from April 1, 2014 to March 31, 2015, a zero tariff policy was implemented for the import of rare earth metals within the Eurasian Economic Union member states and the CIS free trade area. From June 1, 2015 to December 31, 2016, import tariffs on scrap precious metals were reduced from 18% to zero. Implementing zero tariffs on these rare metals will help improve the market competitiveness of enterprises in the customs union member states.
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