EEC Council approves exemption from import customs duty on butter for  Armenia

ArmInfo.  The Council of the  Eurasian Economic Commission (EEC) has approved a tariff concession in the form of an exemption from import customs duty for butter  imported to the Republic of Armenia in the amount of no more than 2  thousand tons and to the Russian Federation - in the amount of no  more than 25 thousand tons, as stated in the EEC message.

The measure of customs and tariff regulation will be in effect from  the it comes into force, 10 days after publication, until June 15,  2025. "The measure is needed to ensure additional supply of butter on  the domestic market to contain price growth and prevent shortages.  The supplied butter can be used both for food production and for sale  in retail trade," said Andrei Slepnev, EEC Minister of Trade.

He stressed that the decision will ensure a balance of supply and  demand in the short term without affecting the production of other  dairy products, given the resource base limitations. Imports can be  carried out from Iran and India, among other countries.  The tariff  exemption will be granted upon receipt of confirmation issued by the  authorized body of either the Republic of Armenia or the Russian  Federation.