Sugar import procedure simplified

The procedure for importing sugar and sugary products based on the import quotas granted by the EU and other countries with which Moldova did not sign free trade agreements will be simpler from March, Info-Prim Neo reports. According to the Ministry of Economy, the procedure will be simplified by transferring the right to manage the quotas from the Licensing Chamber to the Customs Service. The import authorization will be annulled and the companies will be able to import sugar and sugary products on the basis of the principle “first come – first served”. The preferential customs duty on the import of these products within quotas is at most 10%, while outside the quotas - 75%. In order to prevent cases when one company can benefit from the entire preferential tax, a duty of 10% of the allowed amount is put on every import transaction. Since October 2009, Moldova has benefited from a preferential quota of 6 500 tonnes a year on the import of sugar and sugary products from the EU and other states with which it did not sign free trade agreements. The quotas were set at talks held within the World Trade Organization.