Estonia's Parliament sets import duties

TALLINN(BNS) - Estonia's Parliament adopted in the early hours of Nov. 18 a law on customs tariffs for most-favored nations, by which customs will be imposed on the goods of all those countries which have not signed free trade agreements with Estonia.

The law is accompanied by a 70-page list of goods with the indication of set customs tariff rates.

The tariff on mutton, imported from New Zealand, is 15 percent. The duty on various cheeses will be from 35 to 38.5 percent, depending on their fat content.

Considering the number of free trade agreements Estonia has signed, the customs tariffs can be applied to a limited number of countries. The import of agricultural produce from the MFN countries makes up to one third of total imports. Therefore the imposition of customs duties on third countries' goods will only have a minor regulatory effect on the market.

Among Estonia's trade partners, the biggest third countries are Russia, the United States, Canada and New Zealand.

The government is planning to get nearly 90 million kroons ($ 6 million) in revenue from customs duties for next year's budget.