168 Hours: Samvel Alexanyan to strengthen monopoly
As the Union of Informed Citizens said recently, Armenia’s membership to the Eurasian Economic Union will not harm the business of Samvel Alexanyan as from 2015 to 2025, the imported raw sugar for processing will be exempt from customs duties. Alexanyan’s Lusastgh Sugar company imports sugar which undergoes re-procession before entering the domestic market, 168 Hours writes.
The newspaper notes that currently Armenia pays 10 percent customs duty for importing ready-made sugar (USD 60-65 per ton), while according to the Customs Union Customs Code, in average, the country will have to pay USD 250 for one ton.
It will cost higher to import ready-made sugar, and this will strengthen Samvel Alexanyan’s monopoly, the newspaper adds.