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Ukrainian parliament prolongs increased export duty on scrap metal for 2 years

Ukrainian parliament prolongs increased export duty on scrap metal for 2 yearsThe Verkhovna Rada has prolonged the increased export duty on scrap metal in the amount of EUR30 per tonne for another two years.

The parliament supported corresponding bill No. 6382 at a meeting on June 8. Some 260 deputies voted for the bill.

When presenting the bill in the Parliament, chairman of the Verkhovna Rada committee on industrial policy and entrepreneurship Viktor Halasiuk noted in the eight months of action of the increased export duty exports of raw materials were reduced, while the supply of scrap metal to domestic steelmakers rose by 30%.

According to him, this bill will bring more than UAH 1 billion per year due to the stable operation of metallurgical companies.

At the same time, Halasiuk stressed this bill meets the world practice.

"This temporary increase in scrap metal duties fully meets Ukraine's international obligations within the WTO," he said.

The head of the committee added as a whole about 20 countries imposed restrictions on exports of scrap metal.
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