Global Trade Alert

In order to provide the economic stability of the country the Council of Ministers has adopted the Decree #755from 11 June 2011 to protect internal market in crisis. This decree introduces two measures: high export taxes as well as export prohibition of certain products by physical persons.

1. The special export tax (200 percent) is taken at the border if more than a limited amount of products is exported outside Customs Union. Thus , the limits are the following: pork and chicken meat ( 2 kilos), butter (1 kilo), cigarettes (2 boxes), canned food (meat or milk) - 5 cans per person.
2. The following domestically produced products are prohibited to export by physical persons: refrigerators, gas cookers, cement, cereals, certain cleaning agents, and pasta.

This Decree also empowers the Ministry of economy monitor the prices of those products. The National bank of Belarus is encouraged to keep interest rate attractive for physical persons to keep the money in the Belorussian banking system.