Tuesday , October 27 2020
Breaking News
Home / Tag Archives: WTO

Tag Archives: WTO

Brazil sugar producers fears price fall as India, Thailand to inject 4m tones in market

NEW DELHI: Sugar prices have been slumping at a time when Brazilian sugarcane producers were already struggling because of government fuel policies that have reduced demand for ethanol. According to preliminary estimates by Brazilian consultancy Agroicone, Indian and Thai subsidies would add 4 million tonnes of sugar, or nearly 7 percent, to world supply, dragging down prices 13 percent. Unica’s ... Read More »

EU, Russia at daggers drawn on excessive import duties on palm oil, refrigerators

MOSCOW: European Union said that there was increasing dispute with Russia on excessive import duties on palm oil, paper product and refrigerators. The challenge is latest in a series of WTO disputes with Russia, the EU’s third biggest trading partner since Moscow joined the body in 2012, although they have been overshadowed by tit-for-tat sanctions triggered by the crisis in ... Read More »

Philippines reports on Thailand’s agreement to WTO cigarette tax verdict

MANILA:  Philippines will provide a report on the status of Thailand’s compliance to a World Trade Organization (WTO) ruling on a cigarette tax case this week. In a notice posted on its website, the WTO said the Philippines would give a statement on Thailand’s customs and fiscal measures on cigarette imports from the Philippine during the meeting of the agency’s ... Read More »

India challenges WTO in US poultry import ban case

MUMBAI: India has challenged a World Trade Organization (WTO) ruling asking it to lift ban on the import of cheap chicken legs from the United States. This objection of India aimed at helping check shipment of low-cost chicken legs, which are discarded in America as they are perceived as having higher cholesterol levels. Although a decision on filing an appeal ... Read More »

ICC, USCIB, OECD, IDB, WTO,WCO jointly finds solution on cross border challenges at CTFS

NEWYORK:  The Customs and Trade Facilitation Symposium ‘Finding Solutions to Cross-Border Challenges’ will bring together business, government, and operational experts from all over the world. Representatives from leading international organizations such as the Organization for Economic Co-operation and Development (OECD), Inter-American Development Bank (IDB), World Trade Organization (WTO) and the World Customs Organization (WCO) will also participate to consider the ... Read More »

Argentina: Customs restrictions to remain in place against WTO rules

ARGENTINA: Despite the rules of World Trade Organization (WTO), the government of Argentina has confirmed that customs import restrictions would be kept in their place. Internal Trade Secretary Augusto Costa and Foreign Trade deputy secretary Paula Español met on Wednesday with representatives of several business chambers, where the commitment to upholding commercial restrictions was made clear by the government officials. ... Read More »

Indonesia all set to increase import duties on textile finished goods

JAKARTA: Indonesian government has finally decided to increase the import duties on all textile finished goods under the most favored nation rule, the World Trade Organization (WTO) allows its members to apply import duties of up to 40 percent. The policy will cover 741 items out of 1000. The step will support their goal to reach an ideal tariff system ... Read More »

Indonesia Customs to increase import duties on finished good

JAKARTA: Indonesian government has decided to raise import duties on all kind of finished goods to give a supportive hand to its economy while keeping the import duties rates of other countries into mind. For emerging economies, the tariffs are usually of significant use, serving as a means to manage imports and provide room to expand particular industrial sectors. Indonesia ... Read More »

US steel industry accuses WTO of favouring India

WASHINGTON: The American steel industry loudly criticised a WTO ruling against the US imposing high duty on imports of certain Indian steel products, an order India hailed as a “significant victory” that will help its domestic manufacturers and exporters. “The WTO decision today significantly weakens the effectiveness of US trade laws,” said Thomas J Gibson, CEO and president of American ... Read More »

Iran seeks Russian help to join WTO

TEHRAN:  According to a memorandum of cooperation between Russia’s ministry of economic development and Iran’s ministry of industry, mining and trade, Iran asked Russia to help it join the World Trade Organization (WTO). The one-year memorandum was signed by Russian Minister of Economic Development Alexei Ulyukayev and Iranian Minister of Industry, Mining and Trade Mohammad Reza Nematzadeh. “The Iranian side ... Read More »

Italy to help Lebanese Customs to modernise clearance processes

BEIRUT: Italy is providing Lebanese Streamline Customs Department with fully computerised processes thus reducing cost burdens, said the speakers by Lebanese Customs Administration and the Italian Customs and Monopolies Agency. They said that, the twinning project not only sought to improve procedures and control methodologies but also aimed to reduce cost burdens and optimize efficiency. The objective of the twinning ... Read More »

Manila customs to sue top rice importer for smuggling

MANILA: The Bureau of Customs (BOC) said that it has filed four reports against Starcraft International Trading Corp and also 12 customs brokers associated with it, for violating Section 3601 of the Tariff and Customs Code of the Philippines and Section 29 of Presidential Decree (PD) Number 4, as amended by PD No 1485. Sued were Starcraft president Jeffrey Daradal, ... Read More »

ATF to boost Taiwan GDP by more than $3.8 billion

TAIPEI: “Agreement on Trade Facilitation (ATF) is expected to be implemented which means bringing a high boost in Taiwan’s gross domestic product (GDP) by more than US $3.8 billion and an improved efficiency in customs procedures lowering trading costs” said the Ministry of Economic Affairs (MOEA) The MOEA said that the ATF is expected to take effect in the second ... Read More »

US signs TFA with WTO to facilitate SMEs across border

WASHINGTON:  The trade facilitation agreement will make it easier for small and medium-sized enterprises to do business across borders, a subsidiary organisation of the WTO has said while calling for its speedy implementation. “The TFA will make it easier for small and medium-sized enterprises to do business across borders. Since SMEs account for the bulk of employment worldwide, lowering the ... Read More »

Iran seeks membership of WTO to boost export

TEHRAN:  Deputy Head of Iran’s Trade Promotion Organization (TPO) Yaghmour Qolizadeh said that the country is resolved to establish regular shipping lines from Iranian ports to worldwide destinations to pave the ground for an increase in its exports. “Regular shipping lines will be established to increase exports,” said the official, adding the country’s exports rose by 19.6 percent comparing to ... Read More »

Pakistan launches first-ever export dispute against EU in WTO

ISLAMABAD: Pakistan took the European Union to the World Trade Organisation, challenging the latter’s move of imposing punitive duties on Pakistani exports of polyethylene terephthalate (PET). As per details, Pakistan is of the view that the EU has violated the WTO rules by imposing anti-subsidy duties on PET, which is used in synthetic fibres, plastic bottles and food containers. Under ... Read More »

Pakistan launches trade dispute at WTO, challenges EU’s punitive duties

NEW YORK: Pakistan launched a trade dispute at the World Trade Organization on Wednesday to challenge the European Union’s punitive duties on Pakistani exports of polyethylene terephthalate (PET), the WTO said in a statement. Pakistan says the EU has broken WTO rules in the way that it imposed anti-subsidy duties on PET, which is used in synthetic fibres, plastic bottles ... Read More »

India’s wrangling delaying world customs deal

GENEVA: The World Trade Organisation is still in an impasse over the new treaty on world customs pact, two month after failing to seal it. According to the officials, the main hurdle in blocking the efforts of WTO’s trade facilitation committee by the United States is continued wrangling with India. On the other side, New Delhi has already refused to ... Read More »

Development of WeBOC clearance system

BY RAFIULLAH BANGASH (ASSISTANT COLLECTOR): As part of its reform and modernization efforts, the erstwhile Central Board of Revenue (CBR) under the banner of Customs Administrative Reforms (CARE)  which replaced decades old, notoriously inefficient, manual system into a progressive computerized clearance system capable of catering to the present day demands of huge volume of cross border and international trade. With web based ... Read More »