It is planned to establish a zero duty rate until March 31, 2028.
According to the Eurasian Economic Commission, this proposal is related to the shortage of terephthalic acid in the EAEU countries and aims to support the development of local production of polyethylene terephthalate and dioctyl terephthalate. These materials are used for creating packaging, plastic containers, technical threads and fibers, as well as in the production of linoleum, wallpaper, and other goods.
“The introduction of this measure will reduce the costs of producing polyethylene terephthalate and improve the competitiveness of domestic products in the domestic market,” the message states.
Note:
According to the EEC, the current duty on terephthalic acid is 5% of the customs value; however, a zero rate has been applied since 2014.
