MIAMI (AP) — Sanctions on Russia are starting to wreak havoc on global trade, with potentially devastating consequences for energy and grain importers while also generating ripple effects across a world still struggling with pandemic-induced supply chain disruptions. Since Russia’s invasion of Ukraine, hundreds of tankers and bulk carriers have been diverted away from the Black Sea, while…
On 22 November 2021 a press conference was held to inform the media of the benefits and opportunities of being admitted to the Enhanced Framework GSP. The event was organized by the British Embassy in Tashkent, in partnership with the Ministry of Investments and Foreign Trade of Uzbekistan. Kenan Poleo, Her Majesty’s Trade Commissioner to Eastern…
1 September 2021 – More than 2,000 hauliers were fined for not having the correct export documentation in the four months following the end of the transition period. The UK completed its departure from the EU’s single market and customs union on New Year’s Eve, meaning exporters had to comply with new rules to continue…
05 August 2021 – A new ‘customs procedure code’ will facilitate the faster movement of goods through smaller ports, an international trade and customs expert has said. Customs procedure codes (CPCs) are entered onto customs declarations to identify the customs and/or excise regimes which goods are being entered into and removed from (where this applies).…
03 August 2021 – HM Revenue and Customs (HMRC) has today announced that the Customs Declaration Service (CDS), a system founded on world-leading technology, will serve as the UK’s single customs platform from 31 March 2023. HMRC will be closing its Customs Handling of Import and Export Freight (CHIEF) system on 31 March 2023. Hence, from…
14 July 2021 – The European Union (EU) has introduced new rules governing the value-added tax (VAT) applied to cross-border eCommerce sales. These changes, effective July 1, include the removal of the VAT exemption on imported goods into the EU with a value up to EUR22 (around Dhs95). A special scheme for distance sales of…
13 July 2021 – The government is encouraging UK businesses to prepare for rule changes for trade with the EU which will come into effect across the next six months. HMRC has today (12 July) written to more than 160,000 VAT-registered businesses explaining the measures firms must take to continue trading with the counterparts on the continent.…
28 June 2021 – The EU-UK Trade and Cooperation Agreement On 24 December 2020, the EU and the UK reached an agreement on the terms of their relationship following the UK’s withdrawal from the EU. The EU-UK Trade and Cooperation Agreement (TCA) formally entered into force on 1 May 2021 and provides for zero tariffs and zero…
14 June 2021 – The EU, together with the UK, was India’s largest vacation spot (as a bloc) in FY20, with a 17% share within the nation’s general exports. Importantly, the UK accounted for 16% of India’s $53.7-billion exports to the EU in FY20. As India and the European Union (EU) put together to resume…
09 June 2021 – As every economist knows, there are three types of lies: lies, damned lies and statistics. But that view is not confined to economists. It is now shared by many in the Scottish salmon sector, thanks to an extraordinary episode over export figures. The collation of our export figures is usually pretty…
