The Board of the Eurasian Economic Commission has made amendments to the regulation of issues related to the import/export of precious metals and raw materials containing precious metals.
"The changes aim to liberalize the import and export of certain categories of precious metals, streamline the process of passing state control, optimize the list of documents provided by participants in foreign trade to state authorities, and apply uniform non-tariff regulation measures to identical goods," said Vahagn Kazarayan, Director of the Department of Customs Tariff and Non-Tariff Regulation of the EEC, according to the Commission's press service.
According to him, this includes excluding from regulation goods where the share of precious metals does not exceed 2% of the mass. Also, considering the possibility of obtaining documents electronically, copies of documents (export license, product specification) are allowed to be submitted for state control instead of originals.
Furthermore, requirements for the presence of a document on the conditions of processing goods outside the customs territory of the EAEU are excluded if the purpose of applying the customs procedure for processing outside the customs territory is the repair of goods, and a number of other changes are introduced.
The decision will enter into force 30 calendar days after the date of its official publication.
Earlier, BMG reported that in January-February, exports of precious stones and metals from Armenia increased by 8.9 times to $1.8 billion compared to the same period last year. The sharp increase in the production of jewelry in January-February, which experts believe is related to the re-export of these goods, compensated for the decline and slowdown in other sectors of the industry.
