More Trade News in Brief – Week 26 (18–24 June 2012)

* IPCC Asks Greenhouse Gas Inventories Task Force to Revise Guidelines

 

7 June 2012

 

The Intergovernmental Panel on Climate Change (IPCC) asked its  Task Force on National Greenhouse Gas Inventories (TFI) to develop, revise and update  the guidance on greenhouse gas emissions and removals from land use, land use change and forestry (LULUCF).

 

For further information please click here.

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* WCO and UNIFAB Sign an MOU to Combat Counterfeiting

 

14 June 2012, Brussels

 

The World Customs Organization (WCO) and the Union des Fabricants (UNIFAB) signed a Memorandum of Understanding (MoU) to strengthen their close cooperation in the fight against counterfeiting.

 

More here.

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* US & EAC – Trade and Investment Partnership

 

20 June 2012, New York

 

The United States Trade Representative (USTR) and the East African Community (EAC) member states signed a joint statement on a new trade and investment partnership.

 

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* Vietnam & Morocco Sign Investment Protection Accord

 

19 June 2012, Rabat

 

Morocco and Vietnam signed a bilateral accord designed to promote and to protect investments in both countries.

 

 

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Albania Takes Part of Harmonized System Convention (HS)

21 May 2012, Brussels

 

The World Customs Organization (WCO) is pleased to welcome Albania as the 142nd Contracting Party to the Harmonized System Convention as the country deposited its instrument of accession to the International Convention on the Harmonized Commodity Description and Coding System (Harmonized System).

 

The Harmonized System Convention will enter into force in Albania on 1 January 2014.

 

For further details please refer to WCO’s webpage.

 

US-Japan Joint Statement on Global Supply Chain Security

2 May 2012, Brussels

 

In the Joint Statement, the Governments of Japan and the US acknowledge that efforts to strengthen the global supply chain are top important for a safety and smooth trading.

 

Japan and the US are committed to supporting and working with the World Customs Organization (WCO), the International Civil Aviation Organization (ICAO), the International Maritime Organization (IMO), the Universal Postal Union (UPU) and the Asia Pacific Economic Cooperation (APEC) organization to strength  the worldwide security across all modes of transport.

 

More information here.

Harmonized System (HS) Nomenclature 2012

The Harmonized System (HS) 2012 nomenclature, published by World Customs Organization (WCO), has enter into force on 1 January 2012, but most of countries delayed in put it into practice.

 

The “Harmonized System” or simply “HS” is a multipurpose international product nomenclature developed by the World Customs Organization (WCO) and classified over the 98 percent of the merchandise in international trade. It comprises about 5,000 commodity groups (each identified by a six digit code, but which can be expanded until ten digit on same countries) and is supported by well-defined rules to achieve uniform classification.

 

The new on-line version of the Harmonized System Explanatory Notes and commodity Database offers can be access here.

To see the accepted HS Nomenclature 2012 amendments click here.