Eu-Canada Agreement Re-Imported Goods

The Comprehensive Economic and Trade Agreement (CETA) between the European Union (EU) and Canada has paved the way for easier trade between the two regions. One of the key components of this agreement is the re-importation of goods. In this article, we will look at what re-imported goods are and how the EU-Canada agreement affects their trade.

What are re-imported goods?

Re-imported goods are products that were originally exported from a country and then returned to the same country without undergoing any substantial transformation. These goods may have been sent outside the country for various reasons, such as repairs, servicing, or exhibition. When the goods return, they may be eligible for duty-free entry under certain conditions.

How does the EU-Canada agreement affect re-imported goods?

Under the CETA, re-imported goods are eligible for preferential treatment under specific conditions. These conditions are laid out in Annex 2 of the agreement, which covers rules of origin and origin procedures. The rules state that re-imported goods must be of Canadian or EU origin, and must not undergo any substantial transformation while outside the country.

In addition, the agreement also lays out procedures for the verification of origin, the issuance of certificates, and the use of self-certification by exporters. These procedures aim to ensure that re-imported goods are genuine and meet the requirements of the agreement.

What are the benefits of the EU-Canada agreement for re-imported goods?

The EU-Canada agreement provides several benefits for re-imported goods, which include:

1. Duty-free entry: Re-imported goods that meet the criteria set out in the agreement are eligible for duty-free entry. This can lead to significant cost savings for businesses that regularly import and export goods between the EU and Canada.

2. Reduced administrative burden: The agreement simplifies the procedures for the verification of origin, the issuance of certificates, and the use of self-certification. This can lead to a reduction in administrative burden and make it easier for businesses to comply with the rules.

3. Increased market access: The agreement facilitates trade between the EU and Canada, which can lead to increased market access for businesses on both sides. This can lead to new opportunities for growth and expansion.

Conclusion

The EU-Canada agreement provides a framework for easier trade between the two regions, including for re-imported goods. The rules set out in the agreement aim to ensure that re-imported goods are genuine and meet the criteria for duty-free entry. This can lead to significant benefits for businesses that regularly import and export goods between the EU and Canada, including reduced administrative burden and increased market access.

× Chat Now