YEREVAN. – Starting from 2017, goods imported from the free economic zones (FEZs) in Armenia will be subject to partial customs clearance within the Eurasian Economic Union (EAEU).

Minister of Economic Development and Investment of Armenia, Suren Karayan, told the abovementioned to Armenian News-NEWS.am.

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By joining the EAEU in 2015, Armenia had been granted a two-year customs clearance deferral on the products of its FEZs. Accordingly, the jewelry and technology products that were manufactured at these FEZs could be exported to the rest of the EAEU countries, without customs clearance.

As of 2017, however, the goods, for the production of which raw materials from abroad are used, will have to undergo customs clearance, but solely in terms of raw materials; that is, the customs duty will not apply to the value of the finished product.

And if domestic raw materials—i.e. from the EAEU countries—are used, customs clearance will not be conducted, just as now.

There are two FEZs in Armenia.

The Eurasian Economic Union comprises Armenia, Russia, Belarus, Kazakhstan, and Kyrgyzstan.