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EMEA Trade Weekly

 

11 April 2016

Europe, Russia & CIS

 

The EU’s New Union Customs Code: Guarantees

The European Union’s new Union Customs Code will take effect 1 May, requiring member states to amend their national legislation to reflect the substantial changes being made to the existing Community Customs Code. The “STTAS EMEA Trade Weekly” is publishing a series on the most important changes in the UCC. Today’s article will focus on guarantees, and the next article will cover information technology tools.

[STTAS]

 

European Commission unveils VAT reform plan

Key elements of the plan include definitive rules for a single European VAT area, immediate measures to tackle VAT fraud under the current rules, more autonomy for member states to choose their own rates policy, and support for e-commerce and SMEs.

[EU Business]

 

EU, Chile reach agreement on trade in organic products

The two countries will mutually recognise the equivalence of their organic production rules and control systems. The agreement provides for updates to product coverage as well as increased co-operation, information exchange and dispute settlement.

[European Commission]

 

Explanatory note revised concerning synthetic lubricants

Text is being added to the end of the explanatory note to CN subheading 3403.19.90 (other) to specify that this subheading includes, among other things, preparations based on synthetic lubricants. In particular, this refers to preparations based on one or more of the following constituents: poly(alphaolefins) or poly(isobutylenes) of which less than 60 percent by volume distils at 300 °C, after conversion to 1 013 mbar when a reduced-pressure distillation method is used; long chain alkylaromatics; esters; polyglycols; and silicones.

[Official Journal of the EU]

 

EU electrical steel hit with AD duties in China

China’s Ministry of Commerce has imposed preliminary AD duties of 14.5 percent to 46.3 percent on grain-oriented flat-rolled electrical steel from the EU, Japan and South Korea. The move follows the EU’s imposition of AD duties of 21.5 percent to 54.9 percent on the same product imported from China.

[TAX-NEWS]

 

 

Middle East

 

Lebanon and Palestine join Agadir FTA

The FTA took effect in 2007 among Egypt, Jordan, Morocco and Tunisia, giving them free access to each other’s markets while linking them to Europe. The membership of Lebanon and Palestine was approved on 3 April.

[Ahram Online]

 

 

Africa

 

Preferential trade agreement between Mercosur and SACU takes effect

The agreement, which sets out preference margins of 10 percent, 25 percent, 50 percent and 100 percent on 1,050 tariff lines on both sides, took effect 1 April.

[Brazil Ministry of Foreign Affairs]

 

Zambia utilising new equipment to monitor conflict mineral exports

The government has distributed 18 hand-held fluorescent mineral analysers to obtain more accurate and reliable information on the quality and quantity of exported minerals.

[News Ghana]

 

South Africa considers emergency tariffs on iron and steel imports

The temporary tariffs would seek to combat a surge in imports that has caused “serious injury” to the domestic industry in the form of lower sales, output, market share and capacity utilisation. The tariffs would not apply to stainless steel or silicon electrical steel.

[Reuters]

Categories: Uncategorized
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