The government proposes to expand the free economic zone of Crimea

The government proposes to expand the free economic zone of Crimea

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In the state Duma the document can do this week

Photo: RIA Novosti/Sergey Petrosyan

As found “Izvestia”, the government will soon submit to the State Duma a bill on amendments to the Federal law “On development of the Crimean Federal district and free economic zone on the territory of the Republic of Crimea and city of Federal importance Sevastopol”. Amended plans to include in the free economic zone (FEZ) of Crimea the entire coastline of the Peninsula and the Russian territorial waters 12 nautical miles (22.2 km). This “Izvestia” said a source in the government. The status of special economic zones — and tax incentives, and partial reimbursement of expenses to the resident. The bill was approved in the past at last week’s Cabinet meeting.

We are actually talking about the customs-free zone Maritime areas of the Crimea. Under the current law relations in the free economic zone are regulated by special agreement on free economic zones, which now does not apply to territorial waters and restricts the possibility of using the goods placed under the customs procedure of free customs zone in the SEZ. Under the customs procedure refers to the preservation of the status of foreign goods, which when imported into the territory of the FEZ shall be exempt from payment of import duties and VAT. In addition, the goods are not subject to non-tariff measures and quantitative restrictions of export or import.

As explained by the assistant Minister for economic development Elena laskina, when making proposed changes to this rule will apply to all participants of the free economic zone in the Crimean Federal district. Rule is introduced to enable participants of the free economic zone activities in the internal sea waters and territorial sea of Russia. According to her, the proposed changes will help the development of transport infrastructure, of yacht tourism and sailing, the organization of passenger transportation and the creation of additional jobs.

Today in the Crimean FEZ 490 concluded agreements with entrepreneurs who want to become participants of free economic zone. These agreements involve the investment of about $ 75 billion and create around 27 thousand jobs. At the St. Petersburg economic forum, where the Peninsula was presented to potential investors projects, the greatest interest was shown by the representatives of Italy, France, Germany, Iran, Greece and China.

China is interested in the construction of Peninsula hotels. According to the Crimean customs for the past year, China has become the fourth largest trading partner of the Peninsula after Ukraine, Turkey and Panama, the share of China in foreign trade of the Crimea and Sevastopol was 8.6%. The total value of goods imported from China to the Republic of Crimea for 2015, more than $7.7 million, but exports c Peninsula in China are much more modest — only $431 thousand