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Russia Must Reform Complex Customs Regime Says Minister

by Tatiana Smolenska, Tax-News.com, Moscow

02 December 2003


Russia’s Deputy Economic Development and Trade Minister, Arkady Dvorkovich has warned that the unpredictable changes to the country’s customs system pose a serious threat to the confidence of foreign investors.

Addressing a conference of the UK/Russia Economic Partnership last Friday, Mr Dvorkovich announced: “We call for a stable regime of the customs and tariff regulation for the majority of market sectors so that investors can plan their operations.”

Mr Dvorkovich expressed optimism that the government and the private sector will come to a solution that will improve the situation and simplify the customs regime. However, he noted that confidence may be undermined further on the issue of tariffs in relation to state national monopolies, which could set back the development of the banking and financial markets in Russia.


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