Trade Policy Updates (From 26th Mar to 31st Mar 2018)
1) The workers’ permit fees for Indian expatriates in the textiles and apparel sector in Kenya will be reduced from 200,000 Kenyan shilling (KES) to 10,000 KES by the end of March.
2) Belgrade is now the new base for medium and big Turkish firms as the city offers easier access to the European market and helps reduce logistics time and costs.
3) The United Kingdom assured tariff-free market access for Bangladeshi goods entering the UK market post Brexit.
4) The Pakistan government has agreed to put a halt to cotton imports during crop harvest in an effort to ensure farmers get an attractive price and are encouraged to plant more in the next season as cotton production has dropped sharply over the past four years.
5) India and Chile have also expanded the existing PTA (preferential trade agreement) to include new products.
6) Forty-Four African nations recently signed the African Continental Free Trade Area (AfCFTA) agreement, which aims at creating a liberalized market for goods and services across the continent.
7) The Pakistan government is considering reducing the tariff of natural gas and water that would bring down the existing high production cost to compete in the international market.
8) CBEC has decided to extend the ‘Refund Fortnight’ and keep open all the Customs field formations on March 29, 30 and 31 even though these are holidays/non-working days.
9) The U.S. plans to suspend duty-free access to Rwandan textile imports because of the African nation’s refusal to lower trade barriers for American made clothing and shoes.
The suspension applies to all AGOA-eligible apparel products from Rwanda in 60 days.
10) Non-tariff barriers have affected the Nepal’s export trade.
Along with sanitary and phytosanitary standards (SPS) and technical barriers to trade (TBT), Nepali exporters encounter several hurdles while exporting goods to India and third countries.
Countervailing duty on garments, separate license requirements for ginger and agriproducts, antidumping duty, quarantine issues, documentation process, quota provision and access gateway limits have hit Nepali exports.