Average customs duty in Azerbaijan down to 5.7%

Business Materials 23 June 2006 18:55 (UTC +04:00)

The State Customs Committee states reduction of average import duty to 5.7%. Trend reports quoting Mirgasim Vagabov, head of Main Board for financial and currency regulation, SCC, such a reduction came true in the course of implementation of IMF program for transition from specific to add-value duty on some goods.

Such operations were started in April 2002.

Average import duty totaled 8.3% up to April 1, 2004. В"We will try to avoid average duty alongside revising duties differentiation. This will allow raising

customs tariffs for goods that are produced in the republic as wellВ", - Customs Committee representative said.

He opined that while joining WTO the country shall firstly protect national manufacturer. В"We are working in this sphere and we do not want to have the problems faced by Kyrgyzstan, Moldova and Georgia that already are WTOs membersВ", - he noted.

Maximum customs duty today is 15% and it is not possible to reduce it despite recommendations WTO member-countries issue. However, Vagabov said, within the conversation process the government suggests implementing bound-tariffs and rates 30%, 50%, 80%, 100%, 150% and 180% to protect internal market.