| Author (Corporate) | European Commission: Press and Communication Service |
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| Series Title | Press Release |
| Series Details | IP/05/320 (17.3.05) |
| Publication Date | 17/03/2005 |
| Content Type | News |
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The European Commission on 17 March 2005 adopted a strategy to establish new simplified rules of origin for the purposes of the EU's preferential trade arrangements with certain third countries. The rules of origin, which determine which goods can benefit from the lower rates of customs duty under the preferential trade arrangements, were too complicated, as well as being susceptible to abuse. The European Commission suggested replacing the existing rules with a single value-added method for determining origin which would make them clearer as well as more development-friendly. The Commission also envisaged improving the management of the system and introducing a monitoring programme. The changes would be made via legislative measures. Work on the first measure was to commence immediately. |
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| Source Link | Link to Main Source http://europa.eu/rapid/pressReleasesAction.do?reference=IP/05/320&format=HTML&aged=0&language=EN&guiLanguage=en |
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| Subject Categories | Trade |
| Countries / Regions | Europe |