On 19 April 2021, the UK Government announced that the UK and Serbia signed a Partnership, Trade and Cooperation Agreement to ensure £682m trade can continue and grow between the two countries. The announcement said: The Agreement secures continued preferential trade access between the UK and Serbia with significant savings for business to support jobs and the wider economy. It also sets out how the two countries will strengthen political, economic, security and cultural ties,…
Singapore’s Ministry of Trade and Industry announced that on 9 April 2021, Singapore deposited its instrument of ratification with the Secretary-General of ASEAN and became the first country to complete the official process for ratification of the Regional Comprehensive Economic Partnership (RCEP) Agreement. It is understood that China, Japan and Thailand completed their domestic procedures to approve RCEP, but apparently have not deposited their instruments of ratification with ASEAN. RCEP is the world’s largest free trade agreement and…
Global Affairs Canada announced that the Canada-United Kingdom Trade Continuity Agreement (Canada-UK TCA) entered into force on April 1, 2021 – preserving preferential market access for both Canadian and UK businesses. Resources: The full text of the Canada-UK TCA may be found here.A Joint Interpretative Instrument. Statement by Canada and the UK interpreting the Canada-UK TCA provisions.Chapter summaries – Chapter-by-chapter guide to the Canada-UK TCA key provisions.Economic Impact Assessment – Assessmentconducted by the Office of…
On 24 March 2021, the Minister of Innovation, Science and Industry (“Minister”) issued updated Guidelines on the National Security Review of Investments (“Updated Guidelines”). The Updated Guidelines outline additional factors and clarify existing factors the Canadian government will consider in assessing investments for potential national security concerns under the Investment Canada Act (ICA). These new factors include sensitive personal data, intangible assets, certain sensitive technologies, and critical minerals. The Updated Guidelines also formalize that investments by state-owned…
(Decree No. 18/2021/ND-CP amending Decree No. 134/2016/ND-CP) In brief The government recently issued Decree No. 18/2021/ND-CP (“Decree No. 18”), amending a number of provisions under Decree No. 134/2016/ND-CP and elaborating on the Law on Export and Import Duties. The new decree comes into force on 25 April 2021. Decree No. 18 provides the following key points: Duty treatment for toll manufacturers and contract manufacturersImport duty refund for imported goods that have to be re-exportedPhysical conditions…
On 5 March 2021, the European Commission published guidelines on the practical implementation of Article 4 of Regulation (EU) 2019/1020 (“Market Surveillance Regulation”). From 16 July 2021, Article 4 will prevent distance sellers based outside of the EU from selling certain types of CE marked products (including toys, electrical goods and PPE) to customers in the EU where there is no EU-based economic operator responsible for compliance. This is of particular relevance to sellers using online marketplaces to sell…
On April 5, 2021, a majority of a three-judge panel of the US Court of International Trade (CIT) held that President Trump issued Proclamation 9980, Adjusting Imports of Derivative Aluminum Articles and Derivative Steel Articles Into the United States (85 Fed. Reg. 5,281), beyond the statutory time limits set forth in Section 232 of the Trade Expansion Act of 1962 (19 U.S.C. §1862) and was therefore invalid as contrary to law. The CIT found that…
Since it came into force more than three years ago, the Customs Department has endeavored to impose and amend departmental notifications and regulations in compliance with the Customs Act, B.E. 2560 (2017) (the “Customs Act”). However, due to the COVID-19 pandemic and the Revenue Department’s enforcement of the transfer pricing regulation in 2020, the Customs Department is now carrying out stricter post-clearance audits and is more likely to challenge importers on complex issues – meaning…
On April 1, 2021, US Customs and Border Protection (CBP) published in the Federal Register a final rule [CBP Dec. 21-06] that amends the CBP regulations to reflect the imposition of import restrictions on certain archaeological material from the Republic of Costa Rica (Costa Rica). These restrictions are being imposed pursuant to an agreement between the United States and Costa Rica that has been entered into under the authority of the Convention on Cultural Property…
On April 1, 2021, the Department of Commerce published in the Federal Register a document [Docket No. 210326-0072] delaying compliance with the final rule (published on December 23, 2020 at 85 FR 83804 and amended January 27, 2021 at 86 FR 7237), entitled “Aluminum Import Monitoring and Analysis System,” by staying the regulations from March 29, 2021, until June 28, 2021. Commerce will release the public Aluminum Import Monitoring and Analysis (AIM) monitor on the…