The System of Tariff Preferences in the EAEU requires revision

Abstract

Providing tariff preferences to the goods imported from developing and least developed countries is an important trade policy instrument, which influences the level of competition of domestic production with the imports from beneficiary countries, as well as those countries’ economic growth and development. The current system of tariff preferences in the Eurasian Economic Union requires revision, with the rising role of developing countries in the world economy and the changes in the world trade structure. The main changes could include the differentiation and revision of the lists of products for developing and least developed countries, and reduction in the number of beneficiary countries.