Pridnestrovie introduces special customs duty on imported wire and cable

06/20/16 13:47

Pridnestrovie introduces special customs duty on imported wire and cable

This is done to support the Moldavcabel plant
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Tiraspol, 20 June. /Novosti Pridnestrovya/. A special customs duty on imported wire and cable products is introduced in the PMR. The corresponding decree was adopted today at a government meeting.

According to minister of economic development Dmitry Boltrushko, this is done to support the Moldavcabel plant, which is the only domestic manufacturer of this products. Amid a worsening foreign economic situation, the plant is incurring significant losses.

«In 2015, the plant's proceeds from sale reduced by 23% compared with 2014 and by 55% compared with 2013. The plant ended the previous year with negative financial results, which affected payments to the budget and extra-budgetary funds. The plant also decreased its exports. Its exports decreased by 25% compared with 2014 and almost by 60% compared with 2013," explained Dmitry Boltrushko.

The plant's sales in the domestic market also dropped because of a large amount of cheap imported production. To support the domestic manufacturer in the present situation and increase the competitive ability of its products, it was suggested to introduce a special 10% duty.

«Taking into consideration the fact that Moldavcabel does not produce all the products required in the home market, the special duty is supposed to be imposed on those items only that are not manufactured by our enterprise," said the minister.

An agreement has already been concluded with Moldavcabel to increase domestic sales and prevent a rise in retail prices by more than 10%.


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