in World Economy News 04/09/2020 Two months after 10 Chinese customs began an experimental supervision mode to boost B2B e-commerce export, 12 more customs were added to the pilot program on Tuesday by China’s General Administration of Customs. B2B e-commerce export refers to either direct export of goods from domestic businesses to overseas businesses by cross-border logistics…
Details01 Sep 2020 ISLAMABAD: The Federal Board of Revenue (FBR) will issue gold, platinum and silver certificates to the Authorised Economic Operators (AEOs) for providing them a wide range of benefits including trade facilitation, speedy clearance of imports and exports consignments and timely payment of refunds/duty drawback to the holders of such certificates. The FBR…
DetailsOnly 22 per cent of Apac consumers report having product delivery experiences that meet their expectations every time, according to a new study by BluJay Solutions. The research finds that with contactless delivery options becoming more prevalent against the backdrop of the coronavirus pandemic, consumers expectations for transparent, reliable and accurate delivery information is greatly…
DetailsNew Delhi, Aug. Aug 25 : In an attempt to facilitate faster clearance of imported goods, the Central Board of Indirect Taxes and Customs has extended the facility of deferred payment of customs to public sector undertakings (PSUs). Under the new norms, authorised PSUs would be allowed to clear the goods imported by them through…
DetailsUS and Chinese negotiators stressed their commitment to the “phase one” trade deal in a phone call where both sides said they had seen progress, even as relations between the world’s two largest economies deteriorate in many areas. The two countries discussed steps China has taken, including ensuring greater protection for intellectual property rights and…
DetailsCustoms officials at Delhi Airport have seized gold hidden in the mobile phone of a passenger arriving from Dubai. The 505 gram gold bar was moulded into the shape of a phone battery. Officers at the Indian capital’s airport detained the passenger who arrived on a Vistara flight on Monday. An investigation was launched but…
DetailsCustoms transactions processed by Dubai Customs jumped 36% in the first five months of 2020 to reach 5.9 million compared to 4.4 million transactions in the corresponding period of 2019. Dubai Customs completed 5.88 million transactions (99.2%) through smart and online channels, with only 0.8% done through the service counters, a release said. Customs declarations rose…
Details6th August 2020 – If you are a business involved in importing and exporting goods, you’ve probably been very familiar with the term Customs Clearance, as customs plays an important role in cross-border trade. For those who are just beginning to dip their toe into import-export business, it is a new concept and presents real…
DetailsJuly 30, 2020 Another Chinese province reported that it is about to launch a blockchain-powered cross-border financial service platform. Per Haiwainet, Guizhou Province, in China’s mountainous southwest, will launch the initiative this month. The province’s foreign exchange administrator is the platform’s mastermind. The administrator stated that it has been working on the project with the…
DetailsJul 29, 2020 BENGALURU: The government is likely to withdraw customs duty concessions for wind-turbine components to encourage the use of local equipment and reduce imports from China and other countries, people familiar with the development said. The withdrawal is expected to start in April 2021 and may be phased out completely in a year.…
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