Boosting Domestic Bed Linen Production in the EAEU
Rising costs for imported bed sheets observed.
The Eurasian Economic Commission (EEC) has taken a step to support domestic bed linen production by increasing import tariffs on specific types of light industry goods, including those made from cotton yarn.
Effective until the end of 2026, the import tariff (HS code 6302 21 000 0) will rise to 12%, with a minimum of 0.44 euros per kg. According to Vaagn Kazarian, Director of the Department of Tariff and Non-Tariff Regulation of the EEC, this move will aid local enterprises, as the yarn for bed linen production is primarily sourced from third countries.
He further emphasized that EAEU producers create products comparable to imported bed linen in terms of quality and offer a broad variety of options.
Potential Decline in Imported Bed Linen
In a related development, Belarus may face a decline in imported bed linen. Currently, two regulatory acts are being drafted that only temporarily allow imported bed linen for six months under a licensing system and limit state procurement to domestically produced bed linen.
Economic Consequences and Trade Dynamics
Increased tariffs on imported goods could potentially increase costs for Belarusian businesses, leading to higher prices for consumers. Additionally, this could shift the focus towards domestic production or sourcing from other EAEU member states where tariffs are lower or nonexistent, stimulating domestic textile industries but potentially increasing costs if domestic production isn't competitive.
This move could also impact trade agreements with foreign countries, potentially affecting Belarus's ability to import goods at favorable rates.
For precise and up-to-date information on the current and future tariffs for bed linen under HS code 6302 21 000 0, it is recommended to consult the legal portal of the Eurasian Economic Union or contact relevant trade authorities.
The increased import tariff on bed linen goods under HS code 6302 21 000 0 could potentially lead to a decrease in finance allocated for imported bed linen in Belarus.
This shift in the industry towards domestic production may also impact finance flows, as Belarusian businesses might need to invest more in domestic textile industries to reduce costs and remain competitive.
