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

Thermoformed Packaging 2014 Market Review & Outlook North America

This in-depth report provides analysis and discussions of economic and political conditions, market trends, legislative/regulatory activity impacting supply and demand, business opportunities and threats, materials pricing, manufacturing technology, as well as strategies being implemented by thermoformed packaging companies. In addition, there are reviews of 25 leading thermoformers in the packaging segment, assessing their growth initiatives and performance metrics over 10 years.

Learn more

Automotive Market Review and Outlook 2014 The Americas

This 75-page report features in-depth analysis of the automotive industry for the Americas. It includes discussions of market trends, legislative/regulatory activity impacting production and threats as well as design strategies being implemented by the major automakers. Detailed charts and data tables outline North American automotive production over the last five years.

Learn more

Plastics Building & Construction Market Review and Outlook 2014 with MS Excel chart data

This report provides in-depth analysis of the plastic building and construction market for North America, including discussions of trends, opportunities, threats and the latest developments in construction trends that impact plastics processors.

Learn more

Upcoming Plastics News Events

May 6, 2014 - May 8, 2014Plastics in Medical Devices 2014

May 12, 2014 - May 12, 2014Plastics News Brazil Pharma Summit

September 10, 2014 - September 12, 2014Plastics Caps & Closures 2014

February 3, 2015 - February 7, 2015Plastics News Executive Forum 2015

More Events