Trade deal to ease regulations on importing plastics

Keith Nuthall
PRW

Published: December 11, 2013 3:28 pm ET
Updated: December 11, 2013 3:32 pm ET

Related to this story

Topics Government & Legislation

The World Trade Organization (WTO) has struck a global deal that should ease import and customs procedures that can hold up the delivery of plastics, raw materials and plastic products to export customers.

The agreement on trade facilitation was agreed by a WTO ministerial conference in Bali, Indonesia, which wrapped up at the end of last week.

The meeting’s chairman, Gita Wirjawan — Indonesia’s trade minister — said the deal would “reduce the cost of trading, smooth the flow of goods across borders and provide more certainty for business,” creating up $1 trillion in value for global business.

It insists that all WTO members publish all import procedures, charges, tariffs and appeal systems.

And it says penalties for breaking customs rules must depend on the seriousness of the breach and not encourage officials to impose them arbitrarily, avoiding “conflicts of interest in the assessment and collection of penalties and duties.”

Also, plastics exporters should be offered the ability to lodge customs documents electronically in advance for pre-arrival processing, with WTO member states offering the electronic payment of duties, taxes, fees and charges.

WTO member states have agreed to review their trade rules and simplify them to make sure they reduce “the time and cost of compliance for traders and operators.”


Comments

Trade deal to ease regulations on importing plastics

Keith Nuthall
PRW

Published: December 11, 2013 3:28 pm ET
Updated: December 11, 2013 3:32 pm ET

Post Your Comments


Back to story

Market Reports

Plastics Recycling Trends in North America

This report is a review and analysis of the North American Plastics Recycling Industry, including key trends and statistics based on 2013 performance. We examine market environment factors, regulatory issues, industry challenges, key drivers and emerging trends in post-consumer and post-industrial recycling.

Learn more

Plastics in Mexico - State of the Industry Report

This report analyzes the $20 million dollar plastics industry in Mexico including sales of machinery & equipment, resins and finished products.

Our analysts provide insight on business trends, foreign investment, top end markets and plastics processing activity. The report also provides important data on exports, production, employment and value of plastics products manufactured.

Learn more

Plastics Caps & Closures Market Report

The annual recap of top trends and future outlook for the plastics caps & closures market features interviews with industry thought leaders and Bill Wood’s economic forecast of trends in growing end markets. You will also gain insight on trends in caps design, materials, machinery, molds & tooling and reviews of mergers & acquisitions.

Learn more

Upcoming Plastics News Events

January 14, 2015 - January 14, 2015Plastics in Automotive

February 4, 2015 - February 6, 2015Plastics News Executive Forum 2015

June 2, 2015 - June 3, 2015Plastics Financial Summit - Chicago 2015

September 16, 2015 - September 18, 2015Plastics Caps & Closures - September 2015

October 27, 2015 - October 29, 2015Plastics Financial Summit - New York - 2015

More Events