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Russia has introduced a new tariff reduction policy to help the development of small and medium-sized enterprises

"Recently, the Government of the Russian Federation announced a new tariff reduction policy aimed at supporting the development of small and medium-sized enterprises。The policy will apply to some goods imported from certain countries, including machinery and electronics from China。Through this initiative, the Russian government hopes to further stimulate the development of domestic manufacturing, while strengthening cooperation with major trading partners。

According to the announcement of the Russian Ministry of Finance, this policy will officially come into effect on October 1, 2024, when qualified enterprises can apply for the relevant reduction。The introduction of this policy is expected to make ChinaExports to RussiaBusiness benefits and inject new impetus into the bilateral trade。

In a statement, the Minister of Finance of the Russian Federation noted that the policy will help optimize the trade structure and promote economic recovery。At the same time, it also provides more favorable conditions for Chinese enterprises to enter the Russian market。"

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