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Belarus, Kazakhstan, Russia are discussing formula for distributing export duty revenues, says foreign ministry spokesman

Belarus, Kazakhstan and Russia are discussing a common formula for distributing their Customs Union's export duty revenues, Andrey Savinykh, spokesman for the Belarusian foreign ministry, told reporters in Minsk on Tuesday.

Export duty revenues may be distributed in the same way as import duty revenues, Mr. Savinykh said.

It is necessary to have a separate discussion about the collection of export duty on petroleum products made from Russian crude and the requirement for Belarus to give all export duty revenues to Russia, noted Deputy Foreign Minister Alyaksandr Huryanaw.

"Export revenues are an issue," Mr. Huryanaw said. "At the same time, we note that the favorable price of oil from Russia allows products made from it to be more competitive. This means that the rate of customs duty within the Customs Union will gradually change."

Although Belarus paid more than $3 billion to Russia in revenues from its export duty on petroleum products last year, these revenues are not directly connected with Belarus' balance of foreign trade and balance of payments, Mr. Huryanaw said.

According to him, Belarus receives a certain proportion of the import duty revenues collected within the Customs Union.

"The proportion is rather significant," Mr. Huryanaw said. "That is why, even if Belarus loses something in oil export duty, the overall increase in the Customs Union's imports makes up for this. Belarus' share in the imports has grown considerably in terms of value." //BelaPAN