Russia to cut import duty on large diameter pipes
Steel News | 2012-08-01 08:35:48
Russia's import duty on large diameter steel pipes (LDP) will decrease this month due to the entry of Russia to the World Trade Organization (WTO), according to Moscow-based news agency Interfax.
By Paul Ploumis
MOSCOW (Scrap Monster): Russia's import duty on large diameter steel pipes (LDP) will decrease this month due to the entry of Russia to the World Trade Organization (WTO), according to Moscow-based news agency Interfax.
According to the Common Customs Tariff of the Customs Union of Belarus, Kazakhstan and the Russian Federation, approved by the Eurasian Economic Commission, the duty on casing, tubing and drilling pipes will go down from 15 percent to five percent.
A similar reduction in import duties concerns also some types of large diameter pipes (LDP) with the codes of HS 7304.19.900 1, 7304.19.900.2, 7305.11 ü.000 1, 7305.11.000.2, 7305.11.000.3.
Following the entry of Russia to the WTO, Russia has pledged to decrease import duty on LDP from 15 to 7.5 percent by 2015.
The import duty on welded casing has to be reduced from 15 to 7.5-10 percent, the import duty on stainless steel oil and gas pipes must be reduced from 15 to 10 percent, duty on stainless steel drilling pipes has to be cut to 7.5 percent, while the import duty on tubing and casing will be cut to 10 percent, also by 2015.
