Russia's Ministry for Economic Development has approved a proposal to impose a temporary ban on recovered paper exports. This measure reportedly aims to improve poor supply on the domestic market and encourage domestic converting of recovered paper. This action was among a number of decisions whose objectives are to stimulate economic growth, reduce costs for Russian companies and support certain industries, the Russian Ministry said.
In an official statement, the Ministry noted that it would also reduce the import duty on offset, calendered and coated papers to 5 per cent in an effort to make magazine and book publishers more competitive. The reduced rate also applies to composite carton. Additionally, the import duty on black ink has been lowered to zero for a limited period of time, the Ministry announced.