Ukraine considers revoking scrap export duty

Tuesday, 16 March 2004 16:06:00 (GMT+3)   |  
       

Ukraine considers revoking scrap export duty

Ukraine government is reported to be considering revoking scrap export duty after Ukraine-Turkey negotiations for trade and economic cooperation which took place on February 25- 26, 2004 in Kyiv. In the negotiations, Turkish delegation asked Ukrainian government to accelerate rescission of scrap export duty as Turkey is the largest importer of Ukrainian scrap. As previously reported by SteelOrbis back on February 10, 2004, (New decree by Ukrainian Cabinet is an impediment for scrap exports) Ukrainian Cabinet of Ministers released a decree, which made export of scrap impossible unless the contracts are re-registered by March 1, 2004. That the time interval between the publication of the decree and deadline for re-registration was short put the contract holders into difficulty with respect to re-registration for their existing contracts. Turkish contractors have suffered most from this new decree as the country is the largest importer of Ukrainian scrap. In line with the demand of Turkey, Ukrainian government is reported to be evaluating the demand however certain sources report that Ukraine will not terminate scrap export duty until it joins World Trade Organization (WTO). Ukrainian entry to WTO is expected to be in 2004.

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