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Mikhail Vanin, head of the State Customs Committee, has presented President Putin with the first copy of the Customs Code of the Russian Federation, which will come into force on January 1, 2004. Mr Vanin noted that the document met all the requirements of the World Trade Organisation regarding the reform of customs legislation.

The new Code, said the committee head, would substantially modernise the work of the Customs Service and foreign trade in general, which should have a positive impact on the economy.

In connection with this, the President stressed that economic development should take precedence over fiscal interests. He cited as examples the duties levied on some articles made from wood.

Mikhail Vanin briefed Vladimir Putin on measures to protect Russian timber processing enterprises. According to the State Customs Committee, the main principle in determining customs dues is that goods with less added value are to be taxed more heavily and goods with more added value are to be taxed less.

The head of the Customs Committee also reported the fulfilment of the Government’s decrees on the regulation of agricultural imports. The introduction of quotas has already cut the import of meat. The quotas will be in force for three years. The Government hopes that this will give the industry enough time to stand on its feet and start being competitive with imports. According to Mikhail Vanin, agricultural quotas have not affected domestic meat prices.

Vladimir Putin said that the State Customs Committee together with the Economic Development and Trade Ministry should closely follow the situation and promptly respond to changes in the market.