The Cabinet of Ministers of Kyrgyzstan has imposed export restrictions on precious metals, scrap and ferrous metal waste from August 7, 2023, Turanews.kz reports.
The restrictions are in place for six months and include:
- A quantitative restriction of 500 kilograms for the export of precious metals and their raw materials.
- A ban on the export of scrap, ferrous metals and their waste outside the customs territory of the Eurasian Economic Union (EAEU).
The restrictions were imposed in order to protect the country’s natural resources and to ensure the stability of the domestic market. The Ministry of Economy and Commerce has been instructed to notify the World Trade Organization (WTO) and the EAEU of the restrictions.
The restrictions are likely to have a significant impact on the export of precious metals and scrap metal from Kyrgyzstan. However, the government believes that the restrictions are necessary to protect the country’s interests in the long term.
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