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The products are used in the production of a range of flour products, including cakes, pastries and biscuits.

The board of the Eurasian Economic Commission has canceled the import customs duty rate for dried coconuts (coconut flakes) for the confectionery industry for three years. Previously, the import duty was 3%.

“It is expected that the reduction in the import customs duty rate for dried coconuts will help restore the production of confectionery products in the member states that have shown a decline in the context of the pandemic,” said Vahagn Ghazaryan, Director of the EEC Customs Tariff and Non-Tariff Regulation Department.

Due to the natural and climatic conditions, coconut palms do not grow on the territory of the EAEU member states, coconut chips are imported from abroad. Reducing the rate to 0% should reduce the cost of manufacturing finished products, increase the share of products using coconut, and also strengthen the position of domestic confectionery enterprises in export markets.

The decision comes into force after 30 calendar days from the date of official publication.

A source:CustomsForum

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EDITOR’S NOTE: This article is a translation. Apologies should the grammar and / or sentence structure not be perfect.

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