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25 April 2011
Putin: Russia may cut import duties on construction equipment

MOSCOW. April 25 (Interfax) - The Russian government is willing to reduce import duties to zero on construction equipment where there is no Russian-made analog, Prime Minister Vladimir Putin said.

"In the construction industry, as in other manufacturing industries, there should be a unifying principle: we will minimize and zero out import duties when necessary for equipment that is unique and is not manufactured in Russia," Putin said at a meeting on the construction sector.

However, growth in equipment imports does not mean Russia is abandoning plans to organize production on its own territory.

"We will strive at the government level to create the conditions that will provide an economic stimulus to move production to Russian territory with a gradual increase in the amount of localized production," he said.

"I ask the Regions Ministry jointly with the Industry and Trade Ministry to submit proposals to the government, as we are doing this in certain other industries," Putin said.