168 Hours: Samvel Aleksanyan to strengthen his positions

‘168 Hours’ paper writes citing Union of Informed Citizens NGO that to judge by the agreement on Armenia’s entry into the Eurasian Economic Union (EEU), this transaction will not harm Samvel Aleksanyan’s business because the import of raw sugar for processing will be exempt from customs duties in 2015-2025.

Lusastgh Sugar Company owned by Aleksanyan imports raw sugar that goes on sale after going through the last stage of production.

“To say “will not harm” his business is to put it mildly. The fact is 10% customs duty is levied on the import of finished sugar into Armenia ($60-65 on a ton). Yet under the Customs Code of the Customs Union, $250 is levied on a ton. No concessions are envisaged for import of granulated sugar. In other words, the customs duties for importing finished sugar will rise, which means that Samvel Aleksanyan’s business will not suffer, moreover, he will maintain his monopoly position,” the paper says.