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14 key trade documents and data elements for cross-border trade: Inside the ICC’s KTDDE report
The ICC DSI released their 2023 Key Trade Documents and Data Elements (KTDDE) report. The report outlines 14 key trade documents, going into depth on the definitions, purpose, and legal frameworks. Even for those with lots of experience, the international trade industry is incredibly complex. Cross-border trade requires a deep
SEZs should be allowed to sell goods in domestic market on payment of duty foregone on inputs: GTRI
The government should consider allowing the sale of products manufactured in Special Economic Zones (SEZs) in the domestic market on payment of duty foregone on inputs as that would help promote value addition, think tank GTRI said on Tuesday. At present, units in SEZs are allowed to sell their products
UAE set to launch Services Export Strategy
The UAE is planning to launch a new Services Export Strategy to make it easier for the service sector leverage the country’s trading relationships, which continue to expand thanks to the success of the Comprehensive Economic Partnership Agreements (CEPA) programme, a top official says. Dr Thani Al Zeyoudi, Minister of
Duty drawback rates revised, apparel exporters thank Government
The Government has announced the new rates of duty drawback and a few products have had a significant increase in rates. Cotton T-shirts now have a drawback rate of 3.1 per cent compared to 2.1 per cent of earlier, rates for man-made T-shirts also increased by 0.5 per cent, babies
EU importers and suppliers weigh up carbon tariff compliance risks
The European Union has begun the rollout of a world-first carbon border tariff that will tax importers of emissions-intensive goods, but fears have been raised over the scheme’s impact on global supply chains. On October 1, the EU initiated the transition phase of the new carbon border adjustment mechanism (CBAM)
Post-ETDA shipment puts focus on broader range of trade documents
An international consortium says it has executed the first fully digitised shipment of goods following the enactment of UK legislation giving legal recognition to paperless trade documents. A consignment of valves were shipped from the UK to Singapore using the blockchain platform of supply chain solutions provider LogChain shortly after
How will Egypt benefit from the currency swap agreement with UAE?
Economists have touched on the various advantages the Egyptian economy may receive from the currency swap agreement signed on Thursday with the UAE. Egypt and the UAE signed an agreement that allows the two parties to exchange the Egyptian pound and the UAE dirham, with a nominal value of up
FTAs with UAE & Australia boosted engineering exports by 9% in April-August period
Free Trade Agreements (FTAs) with UAE and Australia have provided a much-needed fillip to engineering exports with shipments to both nations rising 9% in the April-August period of the current financial year even as overall engineering exports nosedived during the period. Engineering exports to UAE in the April-August period of FY24 increased 9% year-on-year to $2.24
Analysis: As pioneering UK reforms go live, what’s next for electronic trade documents?
September 20, 2023 is a landmark date for the digitisation of trade. The UK’s Electronic Trade Documents Act is now in effect, giving paperless versions of documents such as bills of lading (BLs) the same legal standing as their physical counterparts. After decades of slow progress – just 2.1% of
Global Biofuel Alliance Launched at G20 Summit in New Delhi: A Step Towards Sustainable Energy and Economic Connectivity
Prime Minister Shri Narendra Modi along with the leaders of UAE, Singapore, Bangladesh, Italy, USA, Brazil, Argentina and Mauritius, launched the Global Biofuel Alliance on 9 September 2023, on the sidelines of the G20 Summit in New Delhi. The Global Biofuel Alliance (GBA) is an initiative by India as the
