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Following the February 2, 2010 meeting on investment climate in Russia, the Government of Russia was instructed to prepare and submit to the State Duma a draft federal law aimed at improving customs processing procedures, stipulating a significant reduction in processing time and volume of information and documents required, transfer to an electronic declaration system, and maximum reduction in reference provisions within customs legislation, as well as reduction in provisions requiring the issue of departmental regulations.
The Government was also instructed to establish simplified customs processing procedures for the export of non-primary goods and for the import of high-tech equipment, materials, commodities and components for production needs.
The State Duma passed the Federal Law of November 27, 2010 No. 311-F3, On Customs Regulations in the Russian Federation, which stipulates mechanisms aimed at implementing the said measures for improving customs processing procedures.
February 2, 2011