Russia saves the leather industry by abandoning tariff duties on exported leather products

The Russian government announced that the tariff duties on exported leather products (10%) and imported raw materials of leather (5%) will be abandoned in mid August. The cancellation of the duties proved the determination of the Russian government to support and save her leather industry. Currently, Russian leather industry is facing recession and their revenue keeps on decreasing and some of the leather practitioners need to depend on exported products to maintain their earnings. So, the cancellation of tariff duties gives timely assistance to Russian leather industry.

Source: www.soxu.cn

Date: 12 Sept, 2006