The EU-Japan Economic Partnership Agreement Japan enters into force on February 1st. Businesses and consumers across Europe and Japan can now take advantage of the largest open trading zone in the world. | Keep up-to-date on the main consequences in the import and export of goods regarding the United Kingdom’s departure from the European Union | Do you want to receive the freshest news in the worldwide freight transport industry. Follow PORTOCARGO on Linkedin! international freight transport, Import and Export of Goods, international trade agreement, exporting local products, importing local products
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EU-Japan Economic Partnership Agreement Enters into Force

The EU-Japan Economic Partnership Agreement enters into force on February 1st. Businesses and consumers across Europe and Japan can now take advantage of the largest open trading zone in the world.

According to the President of the European Commission Jean-Claude Juncker, by adopting the series of measures resulting from the partnership between two of the main worldwide leading economic power, Europe and Japan are sending a message to the world about the future of open and fair trade. “We are opening a new marketplace home to 635 million people and almost a third of the world’s GDP, bringing the people of Europe and Japan closer together than ever before”, supports Juncker.

This is the EU’s largest bilateral trade agreement to date. The agreement establishes a free trade area with a combined market of over 600 million consumers.

Video credit: EuroNews

In fact, the new agreement will give consumers greater choice and cheaper prices, protecting great European products commercialized in Japan and vice-versa, such as the Austrian Tiroler Speck or Kobe Beef, for example.

Besides, the EU-Japan Economic Partnership Agreement shows that trade is more than quotas and tariffs. “It’s about values, principles, and fairness, making sure that our principles in areas such as labor, safety, climate, and consumer protection are the global gold standard”, stated the President of the European Commission.

The EU-Japan Economic Partnership Agreement enters into force on February 1st. Businesses and consumers across Europe and Japan can now take advantage of the largest open trading zone in the world. | Keep up-to-date on the main consequences in the import and export of goods regarding the United Kingdom’s departure from the European Union | Do you want to receive the freshest news in the worldwide freight transport industry. Follow PORTOCARGO on Linkedin! international freight transport, Import and Export of Goods, international trade agreement, exporting local products, importing local products

This Agreement, which was signed in July last year together with the Economic Partnership Agreement, is the first-ever bilateral framework agreement between the EU and Japan and strengthens the overall partnership by providing an overarching framework for enhanced political and sectoral cooperation and joint actions on issues of common interest, including on regional and global challenges. The Agreement will enter into force once it has been ratified by all EU Member States.

READ ALSO: BREXIT – Consequences on the Import and Export of Goods

The Key Parts of the Economic Partnership Agreement

With regards to agricultural exports from the EU, this agreement will:

  • Scrap Japanese duties on many kinds of cheese such as Gouda and Cheddar (which currently are at 29.8%) as well as on wine exports (currently at 15% on average);
  • Allow the EU to increase its beef exports to Japan substantially, while on pork there will be duty-free trade in processed meat and almost duty-free trade for fresh meat;
  • Ensure the protection in Japan of more than 200 high-quality European agricultural products, so-called Geographical Indications (GIs) and the protection of a selection of Japanese GIs in the EU.

The agreement also secures the opening of services markets financial services, e-commerce, telecommunications, and transport. It furthermore:

  • Facilitates to EU companies access to the procurement markets of 54 large Japanese cities, and removes obstacles to procurement in the economically important railway sector at a national level;
  • Addresses specific sensitivities in the EU, for instance in the automotive sector, with transition periods of up to 7 years before customs duties are eliminated.

READ ALSO: EU Imposes Definitive Safeguard Measures on Steel Imports Starting February

The EU-Japan Economic Partnership Agreement enters into force on February 1st. Businesses and consumers across Europe and Japan can now take advantage of the largest open trading zone in the world. | Keep up-to-date on the main consequences in the import and export of goods regarding the United Kingdom’s departure from the European Union | Do you want to receive the freshest news in the worldwide freight transport industry. Follow PORTOCARGO on Linkedin! international freight transport, Import and Export of Goods, international trade agreement, exporting local products, importing local products
S. Jorge cheese is one of the Portuguese products with protected geographical indications (PGIs) that will benefit from the free trade agreement between the European Union and Japan.

The agreement also includes a comprehensive chapter on trade and sustainable development, and also specific elements to simplify for small and medium-sized businesses. Moreover, it sets very high standards of labor, safety, environmental and consumer protection, strengthening EU-Japan’s commitments on sustainable development and climate change and fully safeguards public services.

Next Steps

The EU-Japan Economic Partnership Agreement is now in force. To take stock of the initial months of implementation, the first EU-Japan committee meeting will be convened in April this year. On the parallel issue of investment protection, negotiations with Japan continue standards and investment protection dispute resolution, with a meeting of Chief Negotiators scheduled for March.

The EU-Japan Economic Partnership Agreement Japan enters into force on February 1st. Businesses and consumers across Europe and Japan can now take advantage of the largest open trading zone in the world. | Keep up-to-date on the main consequences in the import and export of goods regarding the United Kingdom’s departure from the European Union | Do you want to receive the freshest news in the worldwide freight transport industry. Follow PORTOCARGO on Linkedin! international freight transport, Import and Export of Goods, international trade agreement, exporting local products, importing local products

According to the press release recently issued by the European Commission, “the commitment on both sides is to reach convergence in the investment protection negotiations as soon as possible”, acknowledging their shared commitment to a stable and safe investment environment to both parts.

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Source: European Commission

The measures on steel imports will affect 26 steel products, consisting of the application of tariffs of 25% for imports that exceed predetermined quotas | Keep up-to-date on the main consequences in the import and export of goods regarding the United Kingdom’s departure from the European Union | Do you want to receive the freshest news in the worldwide freight transport industry? 👉Follow PORTOCARGO on Linkedin! international freight transport, Import and Export of Goods, international trade agreement, exporting local products, importing local products, Hard Brexit, Brexit
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EU Imposes Definitive Safeguard Measures on Steel Imports Starting February

The measures on steel imports will affect 26 steel products, consisting of the application of tariffs of 25% for imports that exceed predetermined quotas.

The European Commission, the European Union’s executive committee, recently confirmed that it will impose definitive safeguard measures on steel imports effective from February 2nd. The initiative, which was announced in mid-January, replaces provisional measures that had been in effect since July of last year.

In March 2018, the Commission launched an investigation as part of the EU’s response to the US government’s decision to impose tariffs on steel imports. According to the Commission, the investigation concluded that EU steel imports are showing a strong expansion, which “seriously threatens” the bloc’s steelmakers, “which are still in a fragile position due to persistent overcapacity in the global steel market and a number of unfair commercial practices of certain trading partners”.

READ ALSO: BREXIT – Consequences on the Import and Export of Goods

The measures affect 26 steel products and consist of the application of tariffs of 25% for imports exceeding predetermined quotas. This system is similar to the provisional measures currently in force, presenting some important changes that minimize trade disruption and preserve traditional trade agreements in terms of quantities and origins. For instance, the major supplier countries will benefit from individual quotas based on their own import history.

Valid for up to three years, these measures may be revised if “circumstances change”. The Commission also decided to suspend the prior surveillance mechanism for the same products covered by the measures, as long as they apply.

CONTEXT

The Commission imposed provisional safeguard measures on steel imports in July 2018 as part of the three-pronged response defined by the European Commission in 2018. As a result of the import duties applied by the United States from 23 March 2018 under section 232 of the Trade Expansion Act, of 1962, the export of steel to the United States became less attractive. There are already indications that, as a result, steel suppliers diverted some of their exports from the US to the EU.

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Source: European Commission

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BREXIT: Consequences on the Import and Export of Goods

Keep up-to-date on the main consequences in the import and export of goods regarding the United Kingdom’s departure from the European Union.

In case the exodus of the United Kingdom from the European Union is confirmed, more so if a “Hard Brexit” scenario comes to pass, there will be direct implications on systematic trade with third-party countries. Local and national operators should be extremely prepared for this situation as it becomes more likely to happen. When it comes to the preferential origin of goods, the moment when the UK is to be considered a third-party country as well, the practical consequences shall convey to the following aspects:

Brexit is the name given to the United Kingdom’s departure from the European Union. It’s a combination of ‘Britain’ and ‘exit’.

1. WHEN EXPORTING

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When exporting local products to third-party countries which have concluded preferential trade agreements with the European Union, it shall be necessary to reassess compliance with the applicable rule of origin under the Protocol of Origin of the Agreement, taking into account that raw materials originating from the United Kingdom which are incorporated into the final product to be exported and are treated as non-originating materials, will consider materials from a third party country — which mean that a product who was considered as originating from the EU would lose their status in the future.

This will also have a bearing on the control of proofs of origin requested by the customs authorities of the importing country which may question whether products declared to be of local preferential origin continue to comply with the rules of origin applicable after Brexit. The same applies to supplier declarations for products of local preferential origin issued by local operators in order to ensure traceability on the Community stage of both the traceable manufacturing processes.

This means that, under a international trade agreement concluded with the partner countries, local exporters wishing to claim preferential treatment for their goods should ensure that United Kingdom materials used in the manufacture of such products are identified and treated as originating in the determination of the preferential origin of the products in question and which, in the case of subsequent verification, are able to prove the local preferential origin of their products by showing that the inputs of the United Kingdom have not been taken in to account for local imports.

READ ALSO: EU Imposes Definitive Safeguard Measures on Steel Imports Starting February

2. WHEN IMPORTING

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When importing products from preferential countries into the European Union, local  importers should also guarantee that the exporter in the partner country ensures that the declared preferential origin has not been obtained by bilateral cumulation with products of local origin which may include the United Kingdom, as these are now considered to be third party country materials, which are not subject to such bilateral cumulation.

Furthermore, in the case of subsequent verification, exporters from third-party countries may also have to prove, by applying bilateral cumulation for the purchase of origin for their products, the Community preferential origin of the EU materials used in the manufacture. In this context, EU importers should ensure that the third party country exporter is in a position to prove the local preferential origin of the imported product that they used in manufacture, being aware that UK material will be excluded from the process after Brexit.

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Keep up-to-date on the main consequences in the import and export of goods regarding the United Kingdom’s departure from the European Union | Do you want to receive the freshest news in the worldwide freight transport industry? 👉Follow PORTOCARGO on Linkedin! international freight transport, Import and Export of Goods, international trade agreement, exporting local products, importing local products, Hard Brexit, Brexit

Source: AT – Autoridade Tributária e Aduaneira 

/ By Bruno Vieira / Comunications • Sem categoria/ 3 Comments

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