ArmInfo. Armenia extends the deadline for collecting state duty on reinforcement imported from third countries for another 6 months. The decision to this effect was made at a meeting of the RA government on August 7.
According to RA Minister of Economy Gevork Papoyan, over the past few years, the country's investment in the processing of ferrous and non-ferrous scrap metal has amounted to $150 million, and thousands of new jobs have been created. Currently, the following foundries operate in the Republic of Armenia: Charentsavan Machine-Tool Plant OJSC, Nikol Duman JSC, Dzulakentro OJSC, and the foundries of GTB Steel LLC and Karakert Stone Smelting Plant OJSC are being built and reconstructed, which is aimed at developing the metallurgical industry of the republic. The production capacity of the foundries operating and under construction in the republic will increase the volume of local production of steel reinforcement, therefore it is necessary to ensure equal competitive conditions between similar products manufactured by local manufacturers and imported from third countries, primarily from Iran. The basic duty of 29 thousand drams will be applied to imported metal products. After meeting domestic needs, it may be necessary to think about exporting finished products.
Earlier, the RA government banned the export of ferrous and non-ferrous scrap metal and waste containing them by a number of decrees. These restrictions are aimed at stimulating the processing of ferrous and non- ferrous scrap metal on site, extracting metals from waste and producing products with higher added value. The majority of the target product imported to the Republic of Armenia from 2022 to 2024 - 75.5%, and in general terms - 80.2%, was imported from the Islamic Republic of Iran. The analysis shows that the price of 1 ton of goods (reinforcement bars) of the commodity item from Iran (excluding VAT) in Armenia ranges from 200 thousand to 205 thousand drams. The cost of 1 ton of steel reinforcement produced in Armenia is about 230-250 thousand drams.
According to statistics, the import of steel reinforcement from the Islamic Republic of Iran to the Republic of Armenia is continuously growing. According to the research conducted by the Commission for the Protection of Competition, in 2023, compared to 2022, the average weighted customs value of 1 ton of reinforcement decreased by 52 thousand drams - from 269 thousand to 217 thousand drams. The average price of 1 ton of reinforcement produced in the Republic of Armenia is 259,600 drams, the minimum and maximum prices are 215 thousand and 300 thousand drams, respectively.
