Making Sense of the New Automotive Customs Rules

02 August 2021 – Legal experts lay out the best compliance practices for importers of record. The U.S. Customs & Border Protection has had quite a year, with the USMCA replacing NAFTA, COVID upending its operations and intense scrutiny for immigration policies at the U.S. border. Last spring, President Joe Biden announced his intent to…

RCEP could be ratified on Jan 1: ministry

22 June 2021 – The Ministry of Commerce expects the Regional Comprehensive Economic Partnership (RCEP) agreement – signed by Cambodia and 14 other countries in November – to enter into force on January 1. Ratification of the trade deal is expected to open up more new markets as well as upgrade the Kingdom’s value chains…

Brexit Update – June 2021 – UK and Australia Trade Deal Breaking News

15 June 2021 – The UK & Australia agree broad terms for a trade deal On Tuesday June 15th, the United Kingdom and Australia have agreed the broad terms for a trade deal between the two countries. The deal seeks to eliminate tariffs on goods but with a 15 year transitional period. The liberalisation of…

India-European Union FTA: Talks to restart soon on realistic note

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…

UAE’s importers need a VAT re-check to take goods out of free zones for GCC shipments

30 March 2021 – With VAT 301 deactivated, they need pre-approval to ensure goods don’t get stuck UAE businesses bringing out goods from free zones for shipment to other Gulf states have to tick another box on their VAT checklist. In specific terms, they have to be sure where they stand on ‘VAT 301’ to…

Exports from NZ worth $38b get tariff benefits in China over 12 years

22 March 2021 – Chinese companies have imported 247.14 billion yuan ($37.95 billion) worth of goods from New Zealand that benefited from tariff concessions following the implementation of the China-New Zealand Free Trade Agreement (FTA) in October 2008, China’s General Administration of Customs said on Monday. China’s imports of New Zealand-origin goods that received tariff…

CIABC urges Centre not to reduce customs duty on whiskey imports

17 March 2021 – A reduction in BCD, it said, will adversely affect Indian Made Foreign Liquor (IMFL) brands since imports already dominate the Indian alcoholic beverages market. Amid reports of the UK seeking massive tariff concessions on imports of scotch whiskey  during ongoing free trade agreement (FTA) negotiations, liquor sector association Confederation of Indian…

S. Korea to help exporters further utilize FTAs with new support centers

16 March 2021 – SEOUL South Korea on Tuesday said it will open new facilities overseas to help exporters better capitalize on free trade agreements (FTA) amid the coronavirus pandemic. Under the plan, the country plans to spend 11.9 billion won (US$10.4 million) this year to open new FTA support centers in Southeast Asia and…