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Zero rates for import of handheld power tool components extended for one year — Commission

It is noted that components in question are not currently produced in the Eurasian Economic Union

MOSCOW, August 16. /TASS/. The Board of the Eurasian Economic Commission (EEC) extended the zero rates of import customs duties for individual components used to produce handheld power tools until June 30, 2023.

"The measure of customs and tariff regulation is aimed at improving competitiveness of handheld power tool producer in the Eurasian Economic Union, increasing volumes of products manufactured by them and expanding their product range," EEC tariff block said, citing Natalia Samoilova, the Deputy Director of the EEC Customs Tariff and Non-tariff Regulation Department.

Components in question are not currently produced in the Eurasian Economic Union, she said. "At the same time, considering availability of the operating production base making possible to establish production of individual kind of components, agreements were reached to work out organization of cooperative interaction among Union member-states in the handheld power tools production sphere," Samoilova said.