26 Mar 2024 17:15

EEC maintains zero duty on importing titanium waste, scrap to EAEU until end of Feb 2026

MOSCOW. March 26 (Interfax) - The board of the Eurasian Economic Commission (EEC) has extended the import customs duty at 0% on titanium waste and scrap (Eurasian Economic Union (EAEU) Foreign Economic Activity Commodity Nomenclature (FEACN) code 8108 30 000 0) until February 28, 2026, the commission's trade bloc said.

The commission's trade bloc also said that the products under discussion are utilized as secondary raw materials to produce titanium products intended primarily for the aerospace, energy, shipbuilding, and medical industries, respectively.

"EAEU metals enterprises utilizing titanium waste and scrap substantially cuts costs and expedites the process to produce titanium semi-finished products, and renders it possible to boost the output of finished products. Companies in our countries also use both waste from their own production and imported raw materials from third countries," EEC Trade Minister Andrei Slepnev said.

The rate of the import customs duty for titanium waste and scrap to the EAEU is 5% of the customs value. The zero rate was introduced in 2015-2016, then extended from 2021 to March 31 of this year.