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Finland Satisfied with Russia Decision on Timber Tariffs

Finland’s Foreign Trade Minister, Paavo Väyrynen, has expressed satisfaction at Russia’s decision to make a significant cut in its tariffs on the export of timber--an important source of raw material for the Finnish forest products industry.

Image: Yle

The European Commission and Russia reached an agreement on lower tariffs in talks last held last weekend.

Väyrynen considers it a 'satisfactory' settlement that will allow the timber trade to continue between Finland and Russia.

Timber tariffs have been one of the main barriers to Russia's membership in the World Trade Organization.

The forest industry has also welcomed the agreement. Director General Timo Jaatinen of the Finnish Forest Industries Federation described the move as positive. He said Russian export duties on hardwood will decrease to a quarter of the current level. Duties on softwood will decrease by half, he added.