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Recently, the Ministry of Development of the Russian Far East and the Arctic told the media that the Ministry of Industry and Trade of the Russian Federation proposes to increase the export quota on forest exports in the Far East in 2020 by 1.5 times.

The exports should increase from 4 million cubic meters to 6 million cubic meters as a support for timber producers in the Far East.

The relevant person in charge of the Ministry of Industry and Trade of Russia said: “The Ministry of Industry and Trade is preparing a draft resolution on amending the current tariff quota regulations, and plans to submit it to the federal executive authority for consideration in the near future.”

In late December last year, the Ministry of Industry and Trade studied various measures to increase the investment potential of the forest industry complex in the Far East.

The Ministry of Industry and Trade recommends that, under the premise of a unified national forestry policy, while maintaining a 4 million cubic meter annual tariff quota for log exports in the Far East, to reduce the export tariffs for Far East logs from 13% to 6.5% in 2020. Export quotas are no longer set and the tax rate is adjusted to 0%. This measure is mainly aimed at enterprises that have wood processing capacity and can export forest products.

The post Russia’s Far East exports of logs to be increased by tariff reductions appeared first on Timber Industry News.