ArmInfo.In Armenia, the rate of state duty on exported ferrous scrap will be increased. The Armenian parliament at an extraordinary meeting on July 9 in the second and final reading amended the law "On State Duty".
Presenting the draft law, RA Deputy Minister of Economy Avag Avanesyan noted that there are about 30 enterprises in the production of ferrous metals in Armenia, employing over 1,200 people. The available reserves of ferrous metal and scrap from it (700 thousand - 1 million tons) are enough for 15-18 years. However, the export of ferrous metal and scrap (annually 7-8 thousand tons) can lead to risks for domestic consumption. In this regard, the executive body proposes to introduce a state duty on exported ferrous metal and scrap in the amount of 60 thousand drams per ton.
Over the past years, 10 thousand tons of ferrous metal and scrap were exported from Armenia, and, as the Deputy Minister noted, this figure tends to increase. Only three months of this year more than 8 thousand tons of ferrous metal and scrap were exported. At the same time, the duty will be set if there is a certificate of the country of origin, in this case, Armenia. As Avag Avanesyan noted, the proposed changes will enable domestic industrial enterprises to use on-site ferrous scrap as raw materials to ensure a competitive price in the production of the final product.
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