Customs and Trade News
Claudia Stroe
Certified Customs Practitioner | Export and Import Customs Procedures | Customs Compliance | Open to Exciting Opportunities to enhance my skills and stay updated on industry trends.
Welcome to a new edition of our Customs and Trade Newsletter.
The Arab Republic of Egypt and the European Union have mutually agreed to elevate their relationship to the level of a strategic and comprehensive partnership, based on the values of equity and on mutual respect and trust.
The European Union acknowledges Egypt as a reliable partner, as well as Egypt's unique and vital geo-strategic role as a pillar of security, moderation, and peace in the region of the Mediterranean, the Near East and Africa.
On 18 March, the EU and the Philippines officially announced the resumption of negotiations for an ambitious, modern and balanced free trade agreement (FTA) – with sustainability at its core. A comprehensive FTA with the Philippines, a booming economy in the heart of the strategically important Indo-Pacific region, would therefore be a valuable addition to the EU's network of trade deals.
A new Trade and Economic Partnership Agreement between the EFTA states— Iceland, Liechtenstein, Norway, and Switzerland - and India was signed in New Delhi on Sunday 10 March 2024. The agreement will provide zero tariffs on almost all exports to India and will cover key areas – including market access for goods and services – that will facilitate more trade, investment and economic cooperation.
Talks continue to be constructive and positive, with both countries focused on achieving a modern and comprehensive agreement with ambitious outcomes, including in areas such as services and investment, mobility, digital and the environment, which are not covered by our existing FTA.
The fifth hybrid round of negotiations is expected to take place in the UK in early summer 2024.
All businesses can now move their export declarations to the Customs Declaration Service (CDS), HM Revenue and Customs (HMRC) has confirmed.
Businesses who have yet to move their export declarations to CDS will have a transition period to move across, until 4 June 2024. After this date, customs declarations cannot be submitted through the Customs Handling of Import and Export Freight (CHIEF) service.
As part of the Customs Decoration Service Export functionality implementation process, further updates will be added to the system.
The changes being introduced in CDS Release 4.4.0 will affect the Data Elements stated here.
HMRC has announced an important update related to VAT and EORI registrations.?
If?a business deregisters for VAT, any Economic Operators Registration and Identification (EORI) number(s) they hold will also be removed at the same time.?
Please see here HMRC message.
From the 8th April 2024 PEACH will no longer be available to make pre-notifications. As a result all imports of regulated and notifiable consignments for Plant & Plant products into the UK will have to be submitted via the IPAFFS system. You can register for webinars training: here .
The Joint Customs Consultative Committee (JCCC) have advised that HMRC would introduce changes to both the Simplified Customs Declaration Process (SCDP) and Simplified Export Declaration Process (SEDP).
The following changes are set to take effect from May, meaning that April will be the first month under which goods will move using the changed procedures.
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22 March, The European Commission, proposed to increase the tariffs on imports into the EU of cereals, oilseeds, and derived products (‘grain products') from Russia and Belarus, including wheat, maize, and sunflower meal.?
The measures are designed to prevent EU market destabilisation, tackle Russian exports of illegally appropriated grain produced in the territories of Ukraine, and prevent Russia from using revenues from exports to the EU. Russia exported some 1.3 billion euros' worth of such products to the EU in 2023, these EU tariffs will cut off another important source of profit for the Russian economy.
The transit of cereals, oilseeds and derived products from Russia and Belarus to third countries is unaffected by today's proposal.
On 12 March 2024, the European Commission launched a targeted consultation giving stakeholders the chance to give feedback on the functioning of the EU’s framework to help resolve cross-border tax disputes for businesses and citizens in relation to double taxation issues. This can happen, for example, due to a mismatch in national rules or different interpretations of the transfer pricing rules in a Double Taxation Treaty (‘DTC’). This can cost businesses and citizens time and money to resolve.
The deadline for submission to this consultation is 10 May 2024.
The amendment updates the product-specific rules to the 2022 version of the Harmonised System. It also introduces a rule for leather products of Chapter 41, and a rule for knitted and crocheted products of Heading 6212, which were missing in the initial agreement.
The international Day of Forest is celebrated every year on 21 March. This year's theme is "Forests and Innovation: New Solutions for a Better World."
This celebration is a reminder of the indispensable role that forests play in sustaining life on Earth and the urgent need for innovative approaches to tackle deforestation and the illicit trade in timber and wildlife.
WCO Secretary General Ian Saunders emphasized the pivotal role played by Customs in disrupting criminal networks, stating, “As part of a comprehensive strategy with other law enforcement partners, Customs needs to support the dismantling of criminal networks involved in illegal timber trade through information sharing and adapted risk management techniques.”
He highlighted the importance of innovative technologies such as geographic information systems (GIS), GPS trackers, drones and remote sensing in empowering Customs and law enforcement agencies to effectively identify legal timber supply chains and combat wildlife trafficking.
The cooperation aims at safeguarding environmental integrity, enhancing strategies for identifying illicit trade in hazardous materials and promoting sustainable development through improved enforcement and regulatory measures.
The reinforced partnership between the WCO and the BRS (Basel, Rotterdam and Stockholm) Conventions represents a unified front against environmental challenges, aspiring to ensure a healthier planet for future generations through sustainable practices and stringent enforcement of environmental regulations.
The Global Supply Chain Forum (GSCF) 2024 is set to provide a crucial platform for leaders and experts to discuss the changing landscape of international trade and logistics and explore explore ways to strengthen resilience and sustainability in global supply chains, from trade facilitation reforms to digital innovations.
WTO highlighted how compliance with sanitary and phytosanitary (SPS) measures can foster economic growth, create jobs and promote international trade opportunities in Francophone Africa.
Ambassador Henri Eli Monceau, Permanent Representative of the OIF to the UN Office in Geneva, said: “To benefit from international trade, developing countries need to comply with the stringent SPS requirements of destination markets, and for that, they need to build national expertise strengthen their SPS systems, adapt their regulatory frameworks, etc. I congratulate the work of the STDF, which enables Francophone African countries to comply with these international SPS measures.”
The government published the trade and investment factsheets summarising the latest statistics on trade and investment between the UK and individual overseas partners.
The factsheets provide statistics between the UK and its partners on: exports, imports, and total trade; trade by commodity and service type; regional trade in the UK for goods; UK market share for trading partners; VAT-registered businesses trading goods; foreign direct investment (FDI); summary trade and investment data as reported by each partner and economic data and projections.