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 in Automotive: Innovation & Emerging Trends

This special report newly released by PN and sponsored by The Conair Group examines current trends in the use of plastics in automotive, materials innovations and the changing landscape. It includes a review of legislative/regulatory activity impacting vehicle development and lightweighting, market opportunities & challenges for mold and toolmakers, innovative design strategies being implemented by major OEMs and suppliers, as well as a review of key indicators in Canada, Mexico, Brazil and China.

Learn more

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

Injection Molding Market Analysis & Processor Rankings

Plastics News BUNDLED package contains our in-depth Market Analysis of the Injection Molding segment. You will gain keen insight on current trends and our economic outlook.

As a BONUS this includes PN's updated 2014 database of North American Injection Molders RANKED by sales volume. Sort, merge, mail & prospect by end market, materials processed, region, # of plants and more.

Learn more

Upcoming Plastics News Events

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

More Events