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Russian Economy Minister Proposes Removal of Aluminium Import Duties to Ensure Competition

Tuesday, Oct 10, 2006
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Following announcement of a giant Russian aluminium merger, Russia’s Economy Minister German Gref proposed canceling import duties on aluminium.

Speaking about a merger, that will see Russian producers Rusal and SUAL as well as Swiss trader Glencore united their aluminium and alumina assets, Gref said: “I believe this is a positive factor for the market and a normal process of commercial engagement.”

At the same time the minister said that it’s necessary to make sure that the new giant, which will control 100 percent of the Russian market, does not create a pricing monopoly on the domestic market. Gref said, quoted by RIA Novosti: “But the state should take proper measures to ensure competition for this large holding on the Russian market, to prevent monopoly prices [for aluminium].” He added that these measures should concern foreign trade regulation and import duties.

“We should remove all barriers and admit global competitors [to Russia] so that they [the new holding] do not raise prices, and consumers do not suffer,” Gref said.

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