Armenia set to extend import duty on cement

Armenia set to extend import duty on cement
27 March 2020

Armenia’s National Assembly passed at the first reading the amendments to extend the validity of the state duty set on cement imports until 31 December 2020. The country has imposed a AMD14,000/t duty on cement imports from Iran and other countries since it ratified the legislation on 3 June 2019, a law that expires on 1 April 2020.

"Over a period between July and December, the volumes of cement imported from Iran have shrunk, that is, 19.2t of cement were imported in one month of 2018, while from July to December 16.8 tons were imported monthly," said the country’s Deputy Economy Minister, Avak Avanesyan, as he presented the bill to the lawmakers. He reported a decline in the production of Armenian cement. "At the moment, we have two large companies, one of which recorded growth," he said. The extension of protective measures was found necessary, because, despite the decline in the Iranian economy and the depreciation of the Iranian national currency, output volumes are maintained, putting downward pressure on prices. "This is not a long-term phenomenon, but according to various estimates, as a result of the loss of this sphere, it will take 10 years to restore output volumes," Mr Avanesyan said. He also noted that, despite the decrease in cement imports, clinker imports increased.

Published under Cement News

Tagged Under: Armenia Iran imports import duty