Russia to Raise Import Duties on Farming Machinery
OREANDA-NEWS. December 12, 2008. Russian PM Vladimir Putin said at a meeting in Rostov-on-Don Thursday that he favors raising import duties on farming machinery to 15%, at least EUR120 per kW of engine capacity. “Needless to say, we cannot close the market from imported equipment or create additional hurdles for agricultural producers. However, we cannot deprive Russian manufacturers of agricultural equipment of measures aimed to boost their competitive edge either. We need to find the balance” – Putin noted.
In addition, according to him, under the circumstances it is advisable to introduce temporary measures to support domestic manufacturers of agricultural equipment for nine months. “It is necessary to raise import duties on used machinery. Needless to say, this measure should not apply to spare parts required for the manufacture of this machinery” – Putin said.
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