Glossary search results for "K" (73)
List of terms in glossary:
Term used to exclude from the generalised system of preferences (GSP) products originating in a beneficiary country, when they reach a level of competitiveness on the EU market at which they no longer need the GSP to compete. Unlike the previous GSP which had GSP-specific "sectors", graduation is now based on the "sections" of the Common Customs Tariff (CCT). A section (i.e., a large group of products in a particular sector – the CCT has 21) from individual countries are “graduated” (excluded) from GSP when those products exceed the relevant threshold (57%, 17.5% or 47.2%, according to the type of product) of EU imports under the GSP of the same products as an annual average over the last three years.
In the framework of preferential trade arrangements, refers to the person or company who buys the originating product and claims preferential tariff treatment for it.
‘Importer’s knowledge’ allows the importer to claim preferential tariff treatment based on his own knowledge of the originating status of imported products in the form of supporting documents or records provided by the exporter or manufacturer of the product, which are in the importer’s possession. This information provides valid evidence that the product qualifies as originating.
International commercial terms. Eleven terms of sale accepted worldwide in assignment of costs and responsibilities between the buyer and the seller. Proposed, updated, and copyrighted by the International Chamber of Commerce (ICC), they serve as global standards for uniform interpretation of common contract clauses in international trade.
In brief these terms are (1) Ex Works (EXW), (2) Free Carrier (FCA), (3) Free Alongside Ship (FAS), (4) FOB (Free On Board Vessel), (5) Cost and Freight (CFR), (6) Cost, insurance and freight (CIF), (7) Carriage Paid to (CPT), (8) Carriage and Insurance Paid to (CIP), (9) Delivered At Place (DAP), Delivered At Place Unloaded (DPU), Delivered Duty Paid (DDP).
Operations regarded as too minor to confer originating status to non-originating materials that are used in the production. All preferential rules of origin contain an article defining such operations. These are e.g. simple mixing, simple assembly of parts, and ironing of textiles. On the other hand, insufficient operations are important for cumulation as they set the minimal level of processing that has to be carried out and impact the allocation of origin to the product.
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.
List of working or processing which must be done on non-originating materials in order for the product manufactured to obtain originating status.
Any kind of working or processing.
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.
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.