Armenia intends to reduce duty on imported cement

YEREVAN, September 12. /ARKA/. The Armenian parliament is discussing amendments to the Law On State Duty, designed to protect domestic cement producers.

The chairman of the National Assembly's Committee on Economic Affairs Babken Tunyan stated at the session that the amendments suggest reducing the state duty on imported cement from the current 14,000 drams to 9,000 drams.

Besides, it is suggested that the duty on imported clinker,  a nodular material developed before the final stage of cement production and easily turned into the construction material, be cancelled altogether.

According to Tunyan, the hefty duty tax imposed on imports of much cheaper Iranian cement in 2019, has fulfilled its role, enabling local cement producers to increase production volumes.

According to him, during the seven months of this year, more than 520 thousand tons of cement were produced in the country. Imports of Iranian cement, which accounted for 25% of the market, also decreased during this period and now its share is less than 5% of the market.

Tunyan said that now the price of Iranian cement at the border has increased significantly, including due to the logistics factors. At the same time, the construction sector in Armenia is demonstrating growth and, according to him, keeping duties at the same level would lead to an artificial slowdown in the sector. ($1 - 405.32 AMD). --0--