Glossary search results for "Y" (148)
List of terms in glossary:
Least developed countries (LDCs) are low-income countries confronting severe structural impediments to sustainable development. They are highly vulnerable to economic and environmental shocks and have low levels of human assets. There are currently 47 countries on the list of LDCs which is reviewed every three years. LDCs have exclusive access to certain international support measures, in particular in the areas of development assistance and trade.
For maritime and air transport, the document listing the cargo on board the means of transport. The document may be used for customs purposes, subject to prior authorisation, when it contains the necessary information in particular with regard to the customs status of the goods and their identification.
Any kind of working or processing.
Any substance used in the manufacture of a product, including any ingredients, raw materials, components or parts.
A rules of origin requirement established by trade agreements and WTO rules, that sets a maximum percentage of materials which are not originating in the country of export and ce be used within a good that qualifies as originating.
South American trade bloc established by the Treaty of Asunción in 1991 and The Protocol of Ouro Preto in 1994.
Its full members are
Venezuela is a full member as well but has been suspended since December 1, 2016.
Associate countries are
Observer countries are New Zealand and Mexico. The bloc has reduced tariffs on trade between those countries by up to 90%.
Minimal operations are operations regarded as too minor to ever confer originating status, whether carried out individually or in combination. All preferential origin rules contain an article defining the working or processing which is insufficient to confer originating status. This applies even if the product satisfies the list rule. On the other hand, when determining origin within a cumulation system, any working or processing carried out must exceed the above-mentioned minimal operations but does not necessarily need to satisfy the relevant list rule for the arrangement.
The principle of not discriminating between one’s trading partners, i.e. all are granted "most favoured nation treatment". Under WTO rules, an advantage negotiated with one country must be extended to all trading partners who are WTO members.
EU trade policy works externally on two complementary levels: multilateral and bilateral. The “multilateral” level refers to the system of trading rules agreed by all WTO member countries.
Provision under preferential trade arrangements related to the transport of originating goods from one party's territory to another. If, for any reason, the goods pass through or stop over in a country that is neither the partner country nor an EU country, the provision allows for the splitting of consignments in a third country and some other operations provided that the goods remain under customs supervision in the country of transit.