Ukraine’s Cabinet of Ministers has facilitated exports of scrap ferrous and nonferrous metals, revoking the registration of foreign economic contracts related to transactions with scrap metal.
The amendments were made to some government resolutions in resolution No. 1035 dated December 28, 2016. The resolution also annuls some previous government resolutions.
“The government has relaxed the procedure for exporting scrap metals. The decision would help liberalize foreign economic activities and liquidate barriers in foreign trade. The institute of registration of scrap metal exports contracts was annulled as not having economic effect. The resolution revokes the obligatory red tape procedure for this registration. It permits free exports of scrap metal, improves business climate in the country and significantly reduces corruption risks in the sector”, the government said in an explanatory note to the document.
The authors of the resolution expect scrap metal exports to grow and currency income to increase. The balance between scrap metal producers, exporters and consumers will be established. Foreign economic traders would have to show less permits for customs clearance of exported goods. (Interfax/Ukrainian metal)