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A free trade area is the region encompassing a trade bloc whose member countries have signed a free trade agreement (FTA). Such agreements involve cooperation between at least two countries to reduce trade barriers, import quotas and tariffs, and to increase trade of goods and services with each other. If natural persons are also free to move between the countries, in addition to a free trade agreement, it would also be considered an open border. It can be considered the second stage of economic integration.
Customs is an authority or agency in a country responsible for collecting tariffs and for controlling the flow of goods, including animals, transports, personal effects, and hazardous items, into and out of a country. Traditionally, customs has been considered as the fiscal subject that charges customs duties and other taxes on import and export. In recent decades, the views on the functions of customs have considerably expanded and now covers three basic issues: taxation, security, and trade facilitation.
The World Customs Organization (WCO) is an intergovernmental organization headquartered in Brussels, Belgium. The WCO works on customs-related matters including the development of international conventions, instruments, and tools on topics such as commodity classification, valuation, rules of origin, collection of customs revenue, supply chain security, international trade facilitation, customs enforcement activities, combating counterfeiting in support of intellectual property rights (IPR), illegal drug enforcement, combating counterfeiting of medicinal drugs, illegal weapons trading, integrity promotion, and delivering sustainable capacity building to assist with customs reforms and modernization. The WCO maintains the international Harmonized System (HS) goods nomenclature, and administers the technical aspects of the World Trade Organization (WTO) Agreements on Customs Valuation and Rules of Origin.
UN/CEFACT is the United Nations Centre for Trade Facilitation and Electronic Business. It was established as an intergovernmental body of the United Nations Economic Commission for Europe (UNECE) in 1996 and evolved from UNECE's long tradition of work in trade facilitation which began in 1957.
The International Chamber of Commerce is the largest, most representative business organization in the world. Its over 45 million members in over 100 countries have interests spanning every sector of private enterprise.
This is a list of international trade topics.
Free economic zones (FEZ), free economic territories (FETs) or free zones (FZ) are a class of special economic zone (SEZ) designated by the trade and commerce administrations of various countries. The term is used to designate areas in which companies are taxed very lightly or not at all to encourage economic activity. The taxation rules and duties are determined by each country. The World Trade Organization (WTO) Agreement on Subsidies and Countervailing Measures (SCM) has content on the conditions and benefits of free zones.
The International Organization of Legal Metrology, is an intergovernmental organisation that was created in 1955 to promote the global harmonisation of the legal metrology procedures that underpin and facilitate international trade.
A free-trade agreement (FTA) or treaty is an agreement according to international law to form a free-trade area between the cooperating states. There are two types of trade agreements: bilateral and multilateral. Bilateral trade agreements occur when two countries agree to loosen trade restrictions between the two of them, generally to expand business opportunities. Multilateral trade agreements are agreements among three or more countries, and are the most difficult to negotiate and agree.
A Certificate of Origin or Declaration of Origin is a document widely used in international trade transactions which attests that the product listed therein has met certain criteria to be considered as originating in a particular country. A certificate of origin / declaration of origin is generally prepared and completed by the exporter or the manufacturer, and may be subject to official certification by an authorized third party. It is often submitted to a customs authority of the importing country to justify the product's eligibility for entry and/or its entitlement to preferential treatment. Guidelines for issuance of Certificates of Origin by chambers of commerce globally are issued by the International Chamber of Commerce.
The ATA Carnet, often referred to as the "Passport for goods", is an international customs document that permits the tax-free and duty-free temporary export and import of nonperishable goods for up to one year. It consists of unified customs declaration forms which are prepared ready to use at every border crossing point. It is a globally accepted guarantee for customs duties and taxes which can replace the security deposit required by each customs authority. It can be used in multiple countries in multiple trips up to its one-year validity. The acronym ATA is a combination of French and English terms "Admission Temporaire/Temporary Admission". The ATA carnet is now the document most widely used by the business community for international operations involving temporary admission of goods.
The EUR.1 movement certificate is a form used in international commodity traffic. The EUR.1 is most importantly recognized as a certificate of origin in the external trade in legal sense, especially within the framework of several bi- and multilateral agreements of the Pan-European preference system.
Rules of origin are the rules to attribute a country of origin to a product in order to determine its "economic nationality". The need to establish rules of origin stems from the fact that the implementation of trade policy measures, such as tariffs, quotas, trade remedies, in various cases, depends on the country of origin of the product at hand.
The Associated Chambers of Commerce and Industry of India (ASSOCHAM) is a non-governmental trade association and advocacy group based in New Delhi, India. The organisation represents the interests of trade and commerce in India, and acts as an interface between issues and initiatives. The goal of this organisation is to promote both domestic and international trade, and reduce trade barriers while fostering conducive environment for the growth of trade and industry of India.
The Uniform Customs and Practice for Documentary Credits (UCP) is a set of rules on the issuance and use of letters of credit. The UCP is utilized by bankers and commercial parties in more than 175 countries in trade finance. Some 11-15% of international trade utilizes letters of credit, totaling over a trillion dollars (US) each year.
According to the World Customs Organization (WCO), an authorized economic operator (AEO) is
"a party involved in the international movement of goods in whatever function that has been approved by or on behalf of a national Customs administration as complying with WCO or equivalent supply chain security standards. Authorized Economic Operators include inter alia manufacturers, importers, exporters, brokers, carriers, consolidators, intermediaries, ports, airports, terminal operators, integrated operators, warehouses and distributors"
An international investment agreement (IIA) is a type of treaty between countries that addresses issues relevant to cross-border investments, usually for the purpose of protection, promotion and liberalization of such investments. Most IIAs cover foreign direct investment (FDI) and portfolio investment, but some exclude the latter. Countries concluding IIAs commit themselves to adhere to specific standards on the treatment of foreign investments within their territory. IIAs further define procedures for the resolution of disputes should these commitments not be met. The most common types of IIAs are bilateral investment treaties (BITs) and preferential trade and investment agreements (PTIAs). International taxation agreements and double taxation treaties (DTTs) are also considered IIAs, as taxation commonly has an important impact on foreign investment.
Arab British Chamber of Commerce established 6 February 1975, is an international trade organisation based in London. Although a not-for-profit body, its role is to encourage, promote and facilitate trade, investment and joint ventures since 1975 between participating representatives of Arab states and of the United Kingdom (UK).
Paperless trade refers to "trade taking place on the basis of electronic communications, including exchange of trade-related data and documents in electronic form" in the Framework Agreement on Facilitation of Cross-border Paperless Trade in Asia and the Pacific, adopted at United Nations Economic and Social Commission for Asia and the Pacific in May 2016.
Indian Chamber of Commerce is a non-governmental trade association and advocacy group having its headquarter situated in Calcutta India. It is one of the oldest trade association in the country and it was founded in year 1925.
References
- ↑ International Chamber of Commerce website, News and Publications, 27 May 2019 "ICC World Chambers Federation announces the publication of revised Certificate of Origin guidelines". 27 May 2019.
- ↑ International Chamber of Commerce website, About Us page "About us".
- ↑ EUR-Lex section (European Union Law) of the European Union website europa.com, Treaties Currently in Force page "Treaties currently in force - EUR-Lex".
- ↑ World Customs Organization website,Revised Kyoto Convention page "World Customs Organization".
- ↑ World Customs Organization website, List of the Contracting Parties to the Revised Kyoto Convention page http://www.wcoomd.org/Topics/Facilitation/Instrument%20and%20Tools/Conventions/pf_revised_kyoto_conv/Instruments
- 1 2 International Chamber of Commerce website, Certificates of Origin page "Certificates of Origin".
- ↑ International Chamber of Commerce Bookstore website, International Certificate of Origin Guidelines: Facilitating trade through global origin procedures "International Certificate of Origin Guidelines: Facilitating trade through global origin procedures".
- ↑ International Chamber of Commerce Website, Dispute Resolution page "ICC International Court of Arbitration®". 26 February 2014.
- 1 2 Certificates of Origin Verification website https://certificates.iccwbo.org
- ↑ International Chamber of Commerce, Paris, France. International Certificate of Origin Guidelines ICC Services, 2019. ISBN 978-92-842-0537-0. (p. 3; Forward).
- ↑ International Chamber of Commerce, Paris, France. International Certificate of Origin Guidelines ICC Services, 2019. ISBN 978-92-842-0537-0. (p. 94, back cover.)
- ↑ International Chamber of Commerce, Paris, France. International Certificate of Origin Guidelines ICC Services, 2019. ISBN 978-92-842-0537-0. (p. 4-5, Contents.)