The new foreign trade regulations implemented in February include:
- RCEP takes effect for South Korea
- General Administration of Customs Announces New Issues for RCEP Implementation
- “Opinions on Promoting the Integrated Development of Domestic and Foreign Trade” released
- A new round of sea freight adjustment
- Argentina has anti-dumping on a number of Chinese products
- Vietnam to cut VAT from February 1
- Eurasian Economic Union bans some timber exports
- China-Uruguay Customs AEO Mutual Recognition Will Be Officially Implemented
- China-Russia Customs Sign AEO Mutual Recognition Arrangement
- Bangladesh will enable e-commerce business unique identification code
- Brazil enacts bill to ease foreign exchange controls
0 1 RCEP takes effect for South Korea On January 1, 2022, the Regional Comprehensive Economic Partnership (RCEP) officially entered into force in 10 countries including China, and the free trade zone with the largest population, largest economic and trade scale, and most potential in the world officially set sail. Approved by the South Korean National Assembly, the agreement will also take effect for South Korea on February 1. On January 18, South Korea Customs held a “flexible application of the Regional Comprehensive Economic Partnership (RCEP)” policy briefing session, introducing the RCEP rules of origin and other core regulations, and compared with other free trade agreements that South Korea has signed illustrate. It focuses on three methods and measures for enterprises to flexibly apply RCEP. The Customs Tariff Commission of the State Council of my country issued an announcement that from February 1, 2022, the first-year tax rate promised in the RCEP agreement will be implemented for some imported goods originating in South Korea. According to the agreement, subsequent annual tax rates will be implemented from January 1 of that year. Please check the specific tax rate here: http://fta.mofcom.gov.cn/rcep/rcep_new.shtml 0 2 General Administration of Customs Announces New Issues for RCEP Implementation On January 20, 2022, the General Administration of Customs issued Announcement No. 8 of 2022: Announcement of new matters for the implementation of the Regional Comprehensive Economic Partnership Agreement. The details are as follows: 1. According to the relevant provisions of the Regional Comprehensive Economic Partnership Agreement (hereinafter referred to as the “Agreement”), the “Agreement” will come into force for South Korea on February 1, 2022. The number of members mentioned in Article 2 of the Measures will be increased by South Korea. The “Special Goods List” mentioned in Article 14 of the Measures adds the “Special Goods Exported to Korea List”. 2. The format of the certificate of origin mentioned in Article 8 of the General Administration of Customs Announcement No. 106 [2021] will be added to the format of the certificate of origin continuation page. If the content contained in the certificate of origin cannot be fully listed on the first page, the exporting member’s visa agency may supplement it through a continuation page. This announcement will come into force on February 1, 2022. Original text of the announcement:
0 3 “Opinions on Promoting the Integrated Development of Domestic and Foreign Trade” released On January 19, the General Office of the State Council issued the “Opinions on Promoting the Integrated Development of Domestic and Foreign Trade” (hereinafter referred to as the “Opinions”), proposing 18 specific measures to improve the integrated system of domestic and foreign trade and enhance the ability of integrated development of domestic and foreign trade. The “Opinions” propose to support the integrated operation of domestic and foreign trade by market players, encourage qualified large-scale commercial and logistics enterprises to “go global”, strengthen the integration and allocation of resources, 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 industrial and supply chains. Cultivate a group of high-quality trading enterprises with strong innovation and competitiveness in domestic and international markets, and guide and drive more enterprises to take the road of integrated operation. The original opinion is here:
0 4 A new round of sea freight adjustment
0 5 Argentina has anti-dumping on a number of Chinese products Pursuant to Resolution No. 40/2022 of the Ministry of Production, published in the Official Gazette of Argentina on February 4, 2022, the following: The Argentine government has completed the anti-dumping investigation on storage-type electric water heaters imported from China, with a capacity greater than or equal to 20 liters but less than or equal to 150 liters (Mercosur Tariff No. 10.00); It is decided to levy 131% anti-dumping ad valorem duty, and the Argentine government accepts WUHU MIDEA KITCHEN & BATH APPLIANCES MFG. CO. LTD. Company; GUANGDONG VANWARD ELECTRIC CO. LTD. Company and GUANGDONG GEMAKE ELECTRIC APPLIANCE CO. LTD. Commitment price for 5 years. According to Article 3 of the Decision No. 271/2021 of the Ministry of Production on June 8, 2021, the customs of Argentina will confiscate the deposit paid for the import of the product. 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.
0 6 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.
0 7 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.
0 8 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 facilitation measures for AEO enterprises:
- Apply a lower document audit rate;
- Reduce the inspection rate of imported and exported goods;
- Priority inspection is given to goods that require physical inspection;
- Designate a customs liaison officer, responsible for communicating and solving the problems encountered by AEO enterprises in customs clearance;
Due to the increased security alert level, border closures, natural disasters, dangerous emergencies or other major accidents causing interruption of international trade, priority will be given to customs clearance after trade resumes. Original text of the announcement: http://www.customs.gov.cn/customs/302249/2480148/4129616/index.html
0 9 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. 0
10 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. 0
11 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. The proposal will make Brazilian companies more competitive when doing business in other countries, while reducing costs for companies involved in the import and export production chain in the Brazilian market, improving foreign exchange efficiency and ultimately benefiting consumers. According to the Act, foreign exchange market operations will be free to conduct without quota restrictions, and exchange rates will be freely negotiated by both parties authorized to conduct foreign exchange transactions.
