AHK Vietnam - Delegation of the German Industry and Commerce in Vietnam’s Post

In today's global economy, understanding international trade regulations is essential for organizations engaged in cross-border transactions. Prof. Vladimir Talanov from the Higher School of Economics University in Moscow emphasizes the importance of elements like tariffs, quotas, and qualitative restrictions in shaping the balance between protectionism and free trade in this video. https://lnkd.in/dpU5iFxR Here are key insights for potential clients seeking info in this field: (based on own interpretation). 1. Grasp the Fundamentals of Trade Instruments: Familiarize yourself with tariffs, quotas, and qualitative restrictions. Tariffs are duties on imported goods that protect domestic industries by increasing market prices. Quotas limit the quantity of specific imports, affecting supply and pricing. Understanding these mechanisms is crucial for strategic decision-making and operational planning. 2. Analyze the Impact of Trade Policies: Recognize the inherent tension between protectionism and free trade. While protectionist measures, such as tariffs and quotas, may seem beneficial to domestic industries in the short term, they often lead to increased consumer prices and constrained availability of goods. Conversely, proponents of free trade, including renowned economists like Adam Smith and David Ricardo, advocate for the reduction of trade barriers to enhance market efficiency and economic growth. Understanding these opposing philosophies is vital for anticipating policy changes that could directly impact your operations. 3. Navigate Non-Tariff Barriers: Be vigilant regarding non-tariff barriers, particularly qualitative restrictions that impose mandatory compliance standards on imported goods, such as health and safety regulations. While these measures are aimed at consumer protection, they can lead to disputes if perceived as disguised restrictions on trade. Hence, proactively preparing for compliance with these standards is essential to mitigate risks and address potential legal challenges effectively. 4. Engage with International Trade Organizations: Recognize the role of organizations like the World Trade Organization (WTO) in promoting fair trade and resolving disputes. Familiarity with WTO regulations is essential for establishing a compliance framework and navigating international trade law complexities. https://lnkd.in/dRrKcDhw 5. Understand Tariff Rate Quotas (TRQs): TRQs indeed allow a specified volume of imports at reduced tariffs, with higher tariffs applying to quantities exceeding that volume. This mechanism is designed to protect domestic industries while allowing some level of market access to foreign producers. In conclusion, here at Levant & Partners, we can help businesses maintain competitive advantages while managing regulatory risks in cross-border transactions. Matvey Levant #TradeLaw

NEW UK SAFETY AND SECURITY DECLARATION REQUIREMENTS FOR EU IMPORTS EFFECTIVE JANUARY 2025 From 31 January 2025, all goods imported into the United Kingdom from the European Union will require a safety and security declaration, also known as an entry summary declaration (ENS). This marks a significant regulatory shift for EU-UK trade, bringing EU imports in line with the UK’s customs safety and security requirements for goods from the rest of the world. Under the new requirements, businesses must provide information through a standardized dataset. This includes 20 mandatory fields that must be completed for every declaration, alongside 8 conditional fields required in specific circumstances. Additionally, there are 9 optional fields that can be left blank if not applicable.  Businesses already submitting safety and security declarations for imports from non-EU countries - or voluntarily doing so for EU imports - will not need to make changes to their systems or processes unless they wish to adopt the streamlined dataset, focusing only on mandatory and relevant conditional fields.  To ensure a seamless transition, UK authorities encourage businesses to begin preparing now. Early adopters can start submitting declarations ahead of the January 2025 deadline. Collaboration within supply chains will also be essential to determine who is responsible for filing these declarations and which submission methods are most appropriate.  To support the implementation, the UK HM Revenue & Customs (HMRC) has provided comprehensive guidance materials, including detailed readiness slides, FAQs, and practical instructions for submission. These resources, shared with ACITA, aim to address common queries and simplify compliance processes. ACITA encourages members to prepare early and communicate clearly with partners to avoid disruptions. Safety and Security readiness slides: An overview of S&S declarations. Safety and Security (S&S) import declarations - FAQs: Answers to common questions. How to submit S&S declarations:  Practical guidance on submission. Should you need any additional information, please visit the HMRC OR www.acita.org

All are rules of responsible trade towards the global society. 1.Technical Information on Rules of Origin https://lnkd.in/gapR5Baj 2.Technical Information on Technical barriers to trade https://lnkd.in/ghxYzkT4 3.TBT Agreement – Annex 3 (Practice) https://lnkd.in/gnH2pyzq

Dispute between import classification and Domestic supply classification: Can the import classification and domestic classification for the same product differ. Is it correct proposition of law, to state classification for the purposes of import can be depended on classification adopted domestically? - Reply By Aman Ved - The Reply = The dispute between import classification and domestic supply classification is indeed a nuanced topic. Import and domestic classifications for the same product can differ significantly due to the distinct regulatory frameworks governing... ... ... http://dlvr.it/TFlcFj #Customs #DiscussionForum #TaxLaws #TaxTMI

In a bold move to protect local industries and reduce trade deficits, the Indonesian government plans to impose a 200% import tax on foreign products. This policy aims to create a thriving environment for local businesses, encouraging innovation and reducing reliance on imports. While businesses may face increased production costs, they will also have new opportunities to source materials locally and enhance competitiveness. Experts, including the Minister of Trade, emphasize the potential for national economic growth and stability. Dive into the details and learn how our Business Competition practice group can help you navigate these changes at https://lnkd.in/gaD-SihP #adcolaw #lawfirm #businesscompetition

LCI Updates: This regulation adds to the provisions that at the time this regulation comes into effect, kratom Export provisions as set out in Attachment I, Attachment IV, and Attachment V to this regulation that have obtained the number and date of the Export customs declaration before the enactment of this regulation: (a) is carried out without being equipped with Business Licensing in the field of Export in the form of Registered Exporters and Export Approval, and (b) is not subject to the obligation of Verification or Technical Tracing of Export. https://lnkd.in/gRm6UsFb #trade #legalcentric

EU Reintroduces Honey Tariff-Rate Quota The European Union (EU) has reintroduced a tariff-rate quota (TRQ) for honey imports from Ukraine. This move comes in response to a surge in honey imports from Ukraine that exceeded the original TRQ established under the Association Agreement between the EU and Ukraine. The reintroduction of the TRQ is a temporary measure aimed at protecting European honey producers from excessive competition. It will allow a limited amount of Ukrainian honey to enter the EU market at a reduced tariff rate. The EU Commission said that the decision to reintroduce the TRQ was based on a careful analysis of import volumes and the potential impact on European honey producers. "We are committed to supporting our European honey producers while also maintaining good relations with our Ukrainian partners," said a Commission spokesperson. The reintroduced TRQ will be in effect until the end of 2024. After that, a new TRQ will be introduced, but at a lower level. This is intended to gradually reduce the amount of Ukrainian honey entering the EU market. The EU's decision to reintroduce the TRQ for honey is a reminder of the challenges that can arise when countries enter into free trade agreements. While such agreements can promote economic growth, they can also lead to increased competition and potential disruptions to domestic industries. Tariff quota period: 1 January 2025 to 5 June 2025 Quantity: 18 507 320 kg net weight #honey #ukraine #eu #quota link here: https://lnkd.in/dnknRT3H

LCI Updates: This regulation adds to the provisions that Import of Goods may be carried out: (a) for business activities, in the form of activities in the economic sector related to: (i) transactions of Imported Goods carried out by Importers with the aim of transfer of ownership, use, or utilization rights of Goods to obtain rewards or compensation, or (ii) use of Imported Goods carried out by Importers as capital Goods, Raw Materials, Components, and/or materials to support the production process or business activities, or (b) not for business activities, in the form of activities other than as referred to in letter a. https://lnkd.in/dTNMqrn2 #import #legalcentric

Mercosur–EU free-trade agreement: What's in it and what's next? A quarter of a century of on-off negotiations concludes, but a new phase of legal and legislative procedures begins. AS/COA Online's Khalea Robertson explains what's ahead: https://ow.ly/6LRR50UsV5x

LCI Updates: The government plans to revise Regulation of the Minister of Trade Number 36 Year 2023 regarding Policy and Regulation of Impor (MOT Regulation 36/2023). In relation to such matter, the Minister of Trade, Zulkifli Hasan, emphasized that consigned goods of Indonesian Migrant Workers (PMIs) are exempted from import licensing regulations, thus PMIs’ consigned goods may be freely received by PMIs’ families in Indonesia properly. https://lnkd.in/gsS5J_T2 #trade #legalcentric