Hayastani Hanrapetutyun: Transition to single customs tariffs to boost domestic production
Below is an excerpt from the paper's editorial:
Upon its integration into the single customs tariff plan applicable across the Eurasian Economic Union (EAEU) back in 2014, Armenia took a five-year transition period for necessity goods. And the single customs system implied an increase in customs duties for third country imports into the Customs Union zone, including Armenia.
To introduce certain regulations on its market - and mechanisms to adjust to the new conditions - Armenia took the privileged term enshrined earlier in Article 4 of the May 29, 2014 treaty "On the Accession of the Republic of Armenia to the Eurasian Economic Union".
Our republic received, at the time, the opportunity to import about 930 products into the Eurasian Economic Union, particularly Armenia, without increase in the custom tariffs.
The privileged term expired on June 1, 2020. Meanwhile, Armenia continued the negotiations to extend the privileges. As a result, on December 20, 2019, the EAEU leaders signed a protocol at the Supreme Eurasian Economic Council session in St. Petersburg extend Armenia's privileged term for another year.
This time, the import privileges do not apply only to 293 types of products on the list of 930 goods.
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