Glossary search results for "X" (98)
List of terms in glossary:
Former regional organisation that aimed to bring about economic integration among its member states. It was created by the Treaty of Rome of 1957. Upon the formation of the European Union (EU) in 1993, the EEC was incorporated and renamed the European Community (EC). In 2009, the EC's institutions were absorbed into the EU's wider framework and the community ceased to exist.
The European Union is a unique economic and political union between 27 EU countries that together cover much of the continent. It is the largest trade block in the world, the biggest exporter of manufactured goods and services, as well as the biggest import market for over 100 countries. The EU's main economic engine is the single market. It enables most goods, services, money and people to move freely.
A trade preferential scheme adopted in 2001 for the 49 least developed countries. It grants duty- and quota-free access for almost all products, except arms and ammunition. It is regulated by Regulation (EU) No 978/2012 of the European Parliament and of the Council.
The price paid for the product ex-works (i.e. when it leaves the factory). It is a widely used international shipping term. The ex-works price includes the value of all the materials used and all other costs related to its production, minus any internal taxes, which are, or may be, repaid when the product obtained is exported.
A tax on quantity, rather than value of goods - for example N euros per hectolitre of alcohol sold. This is a duty paid to consume certain products. Generally levied on alcohol, tobacco, energy products (oil, gas, etc), vehicles and "luxury" products.
Sea zones, regulated by the United Nations Convention on the Law of the Sea, over which states have special rights regarding the exploration and use of marine resources. Exclusive economic zones stretch from the baseline out to 200 nautical miles from its coast.
In the framework of preferential trade arrangements, exporter means a person or company located in one of the countries which are part of that preferential trade arrangement, who, in accordance with the requirements laid down in the laws and regulations of that country, sells the originating product.
Method of exporting goods, where risks and costs are transferred alongside the ship at the port of loading. The customs clearance formalities, costs and risks are borne by the buyer from then on.
Method of exporting goods, where the seller's obligations are fulfilled once the duty-paid goods are delivered to the buyer's appointed carrier at the agreed place. The term can refer to all means of transport – air, rail, road, sea or a combination of these.
Method of exporting goods, where the cost of delivering the goods to the nearest port is included in the price of the product but the buyer is responsible for the shipping from there and all other fees associated with getting the products to its destination. It is a widely used international shipping term.