RUSSIA: DOORS WIDE OPEN
19
VIEWS
by Aleksey Udovenko
Russia is Europe's third most valuable trading partner with exports to Moscow climbing upwards of $134 billion per year. However, unilateral measures adopted by Russia negatively impact EU-Russia trade especially in the recent times. Since joining, Russia has been embroiled in multiple trade disputes with fellow members. The EU accuses Russia of restrictive practices to protect its carmakers, and of putting what it calls excessive import duties on paper and palm oil. As a result, EU requests WTO consultations with Russia over such excessive import duties.

TODAY

After September 1 2015 and until present time HS1511 PALM OIL AND ITS FRACTIONS, WHETHER OR NOT REFINED, BUT NOT CHEMICALLY MODIFIED is taxed at 0% – import duty; For all packaged products under 20 000 kg, Import duty is set at 3%.

From now on the doors are open. Importers are actively looking for new suppliers. MPOC is registering that the business activity among Russian importers is rising. Malaysian exporters are invited to take an active part in the Russian market that is rapidly opening up and showing an ever increasing hunger / demand for palm oil and products.
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