Kazakhstan's deputy minister of finance, Mr. Daulet Ergozhin, has announced the intention of the government to introduce an export duty on all metal products, including steel products, in order to attract additional capital to the country's budget to be used later for investments in less developed sectors of the economy.
The deputy minister stated that the amount of the export duty will be determined by the end of April. However, according to different estimates, the export duty will be set at the level of 10 percent.
Following the government announcement, the Kazakh Exporters Association appealed to the government not to introduce the export duty on metal products. According to the association, the imposition of the export duty would not bring additional capital to the country's budget, but would instead reduce the competitive ability of Kazakh products in the international steel market.
Kazakstan's main metal exporters include iron ore and other raw materials producer ENRC, copper producer Kazakhmis, and steel producer ArcelorMittal Temirtau.