Kyrgyzstan To Receive Customs Duties In The Eurasian Economic Union in Russian Rubles

Kyrgyz MPs have ratified a bill that will allow customs duties between certain member countries of the Eurasian Economic Union (EEU) to be paid in rubles.

The new law allows funds to be transferred in rubles between Russia, Belarus and Kyrgyzstan, at the exchange rate of the national banks of the sending countries.

“Armenia, Kazakhstan and Kyrgyzstan between themselves will make transfers of mutual obligations on distributed import customs duties, as before, in U.S. dollars,” the Kyrgyz parliament emphasized.

During the transition period, interest for late transfer of import duties will not be accrued.

EEU member countries distribute revenues from import duties according to the size of their own economies. Kyrgyzstan’s share is 2%.



Times of Central Asia

Askar Alimzhanov graduated from the journalism department of the Kazakh State University named after S. Kirov, then worked as a correspondent for the daily republican newspaper Leninskaya Smen. He then moved to the United States to be a reporter for the daily newspaper "Cape Cod Times" in Hayanis, Massachusetts, (USA) under the journalist exchange program between the Union of Journalists of the USSR and the New England Society of News Editors. Since then, he has helped build transparency and understanding of Central Asia region in various executive level positions at esteemed media organizations including "Akbar"(Alma-Ata) international center for journalism, the Khabar News agency, the Television and Radio Corporation "Kazakhstan" JSC, and MIR- Kazakhstan.

View more articles fromTimes of Central Asia