RCEP to enter into force for Malaysia on March 18, 2022
On January 28, 2022, the General Administration of Customs issued Notice No. 13 of 2022: The Regional Comprehensive Economic Partnership Agreement (RCEP) shall enter into force for Malaysia on March 18, 2022. The certificate of origin for exports to Korea and Malaysia under the Agreement is a self-printable certificate, which will be implemented from the date of entry into force of the Agreement for the member parties.
RCEP enters into force for Korea
On January 1, 2022, the Regional Comprehensive Economic Partnership Agreement (RCEP) entered into force for 10 countries, including China, and the world’s most populous, largest economic and trade scale, and most promising free trade area set sail. The agreement, which was approved by the Korean National Assembly, will also enter into force for Korea on February 1.
On January 18, Korea Customs held a policy briefing on “Flexible Application of Regional Comprehensive Economic Partnership Agreement (RCEP)” to introduce the core regulations such as RCEP rules of origin, and to compare with other FTAs signed by Korea. Three methods and measures for enterprises to flexibly apply RCEP were highlighted.
The Tariff Commission of the State Council of the People’s Republic of China issued an announcement to implement the first year tariff rate committed in the RCEP agreement for some imports originating from Korea starting from February 1, 2022. According to the agreement, the subsequent annual tariff rates will be implemented from January 1 of the same year.
General Administration of Customs announces new issues for the implementation of RCEP
On January 20, 2022, the General Administration of Customs (GAC) issued Announcement No. 8 of 2022: Announcement on New Issues in the Implementation of the Regional Comprehensive Economic Partnership Agreement (RCEP). Details are as follows.
I. In accordance with the relevant provisions of the Regional Comprehensive Economic Partnership Agreement (hereinafter referred to as “the Agreement”), the Agreement shall enter into force for Korea as of February 1, 2022. The number of members referred to in Article II Korea will increase the measure. Article XIV of the Measures refers to the “list of special goods” added to the “list of special goods exported to Korea”.
Second, in the certificate of origin renewal page format to add the General Administration of Customs Notice No. 106 of 2021, Article VIII of the certificate of origin format. If the first page of the certificate of origin can not be completely listed, the exporting member’s visa agency can be supplemented by a continuation page.
This announcement shall be implemented from February 1, 2022.
Opinions on Promoting the Integrated Development of Domestic and Foreign Trade issued
January 19, the General Office of the State Council issued “on the promotion of the integrated development of domestic and foreign trade views” (hereinafter referred to as “Opinions”), proposed to improve the integration of domestic and foreign trade system 18 specific measures. Trade, enhance the ability to integrate the development of domestic and foreign trade.
The “Opinions” proposed to support market players to carry out integrated domestic and foreign trade operations, encourage large trade and logistics enterprises in a position to “go global”, strengthen resource integration and allocation, optimize the international marketing system, and improve the global service network. Support the development of large multinational supply chain service enterprises, improve international competitiveness, and enhance the resilience of the industrial chain and supply chain. Cultivate a number of high-quality trade enterprises with strong innovation and competitiveness in domestic and international markets, and guide and drive more enterprises to take the road of integrated operation.
New round of sea freight adjustment
Argentina launched anti-dumping on some Chinese products
According to the Decision No. 40/2022 of the Ministry of Production published in the Official Gazette of Argentina on February 4, 2022, the Argentine government has completed the import of storage-type electric water heaters from China with a capacity greater than or equal to 20 liters but less than or equal to 150 liters (Mercosur The anti-dumping investigation of Tariff No. 10.00) decided to impose 131% anti-dumping ad valorem duty , and the Argentine government accepted WUHU MIDEA KITCHEN & BATH APPLIANCES MFG. CO. LTD. Company; GUANGDONG VANWARD ELECTRIC CO. LTD. Company and GUANGDONG GEMAKE ELECTRIC Commitment price set by APPLIANCE CO. LTD. for a period of 5 years. Argentine Customs will confiscate the deposit paid for the import of these products in accordance with Article 3 of the Ministry of Production Resolution No. 271/2021 dated June 8, 2021.
On February 4, 2022, the Argentine Official Gazette published Resolution No. 42/2022 of the Ministry of Production as follows: From the date of the announcement, metal protective grilles for electric fans imported from China, with a diameter of more than 400mm, will be used for electric fans with built-in motors ( MERCOSUR Tariff No. 8414.90.20) products continued anti-dumping investigation, and levied a 6-month provisional anti-dumping duty (ad valorem duty) at a rate of 73%. When importing the products involved, the importer must pay a security deposit equal to the temporary ad valorem tax.
Vietnam to cut VAT from February 1
Vietnam will reduce the VAT of many products from 10% to 8% from February 1. The lower VAT rate will not apply to telecommunications, information technology, financial activities, banking, securities, insurance, real estate, cola , metals and metal prefabricated products, mining (excluding coal), coke, refined petroleum, chemicals and chemical products, and services subject to excise taxes.
Eurasian Economic Union bans some timber exports
On January 6, 2022, the Eurasian Economic Commission (including Russia, Belarus, Kazakhstan, Kyrgyzstan, Armenia) promulgated a ban on the export of some unprocessed, rough-processed and new timber, and decided to impose restrictions on the export of unprocessed, rough-processed and new timber. Timber implements unified non-tariff adjustment measures, and the timber export quota is zero . The decision will take effect 30 days after the announcement.
China-Uruguay Customs AEO Mutual Recognition Will Be Officially Implemented
The General Administration of Customs of China announced on January 18 that the mutual recognition of “Authorized Operators” (AEO) between China and Uruguay Customs will be officially implemented on January 26. When customs clearance of imported and exported goods, the customs of China and Uzbekistan provide each other with the following customs clearance facilitation measures: apply a lower document review rate; reduce the inspection rate of imported and exported goods; give priority to inspection of goods that require physical inspection; designate Customs liaison officer, responsible for communicating and solving the problems encountered by AEO enterprises in customs clearance; due to the increase of security alert level, border closure, natural disasters, dangerous emergencies or other major accidents caused by interruption of international trade, priority will be given to customs clearance after trade is resumed .
China-Russia Customs Sign AEO Mutual Recognition Arrangement
On February 4, the customs of China and Russia signed the “Arrangement on Mutual Recognition of “Certified Operators” between the General Administration of Customs of the People’s Republic of China and the Russian Federal Customs Administration. In 2021, the bilateral trade value between China and Russia will exceed 900 billion yuan (RMB, the same below) for the first time, reaching 948.66 billion yuan, a year-on-year increase of 26.6%. China has been Russia’s largest trading partner for 12 consecutive years.
Up to now, China has signed AEO mutual recognition agreements with 22 economies including Singapore, the European Union, and South Africa, covering 48 countries (regions), and the number of countries (regions) in mutual recognition ranks first in the world. Among them, there are 32 countries jointly building the “Belt and Road”, 5 members of the Regional Comprehensive Economic Partnership (RCEP) and 13 Central and Eastern European countries.
Bangladesh will enable e-commerce business unique identification code
The Bangladeshi government will launch a commercial enterprise identity registration system, requiring e-commerce enterprises to be included in its management, and will use the unique identification code enabled for commercial enterprises in a procedure called a centralized complaint management system to strengthen e-commerce companies. Standardized management of the industry. The move by the Bangladeshi government is intended to regulate the e-commerce industry and the business behavior of e-commerce companies, and help consumers identify unreliable e-commerce companies. The system will be launched first in e-commerce companies in February this year.
The Bangladeshi government will also launch a collaborative electronic transfer platform in March this year to facilitate users to transfer funds between mobile financial services and banks. In the follow-up, a centralized logistics tracking platform system will also be launched, and all logistics enterprises will be included in it to facilitate consumers to track the logistics of goods online.
Brazil enacts bill to ease foreign exchange controls
Brazilian President Jair Bolsonaro approved a new foreign exchange management policy. The bill stipulates that individuals and companies will be allowed to open foreign currency accounts in Brazil. Currently, the authority to open foreign exchange accounts is limited to some specific companies, such as foreign exchange offices and credit card issuers. , in the future, the Central Bank of Brazil will be able to approve individuals to have U.S. dollar accounts in Brazil.
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