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Thursday, October 27, 2016

Turchak asked Putin to establish duties on imported electronics

The Governor of the Pskov region Andrey Turchak invited the Russian President Vladimir Putin sharply raise duties on imported electronics in Russia, reports “Kommersant”.

The intention of the head of area, fees should increase from the current 14% to 60%, which will lead to import substitution in the industry.

In particular, thus it will be possible to bring 2.5 billion investment in the SEZ ‘ Procedure, located in the region. It will create thousands of new jobs.

The General result of protective duties would be to increase the share of domestic electronics in the Russian market from 14% to 50%, and the emergence of more than 20 thousand jobs and a profit budget of $ 600 billion.

The Ministry of economic development of the Russian Federation has responded negatively about the idea Turchak, noting that the norms and WTO rules do not allow to increase the duty on electronics is above 14% (for some types of products cannot exceed 0%). Industry experts, in turn, noted that the increase in fees will only lead to lack of competition and increased prices for foreign products.

We will add that in the first half of this year, the Russian industry grew by 10.7% at current 14% duty.


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