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The new foreign trade policy has changed the shipping trade market

Time:2022-05-09 Publisher:Kevin Num:2427

Recently, many countries around the world have introduced some new shipping trade regulations. This has also brought more opportunities and challenges to the foreign trade market. Let's take a look

The port of Klang issued new regulations

It is reported that from May 1, the Ministry of transport of Malaysia has stipulated that the time limit for all imported container goods to leave the storage yard of Klang port is three days - from the date of entry to customs clearance. 

Transportation Minister Huang Jiaxiang said that this would improve the efficiency of Klang port and prevent containers from piling up in the yard.

This is a new standard operating procedure (SOP), which includes the detention, inspection and release of containers by law enforcement agencies and other government agencies or port authorities at Klang port.

The import license of goods must be submitted before arrival at the port

According to the announcement issued by the Trade Bureau of the Ministry of Commerce of Myanmar, since the 20th of last month, the application for import license will not be submitted until the arrival of goods at the port. 

Before that, the Ministry of Commerce of Myanmar allowed shipment before obtaining the import license in order to import goods more efficiently and quickly. This has also created some shippers who apply for import licenses only after the goods arrive at the port. 

The authorities also reminded the cargo owners and merchants that they should ship after obtaining the license to avoid some unnecessary losses.

China's RCEP agreement tax rate for Myanmar has officially come into force

As we all know, since January 1, 2022, RCEP has successively entered into force for 15 signatories, and China is the first member state to enter into force.

Now, Myanmar will also implement RCEP for RCEP Member States, and China will also give preferential treaty tax rates to goods imported from Myanmar that apply RCEP.

It is understood that up to now, only Indonesia and the Philippines remain in RCEP and have not yet entered into force.

Import restrictions in Nepal

In April this year, Nepal's Ministry of Finance and other relevant departments discussed issues such as restricting imports and strengthening foreign exchange reserves.

The Bank of Nepal convened representatives of commercial banks and some chief executives and asked them not to open letters of credit for commodities other than essential commodities. At present, many commercial banks in Nepal have agreed to this proposal.

Egypt stops import rights of several enterprises

Recently, the General Administration of import control of Egypt announced that it would stop importing products from 814 factories and companies from Egypt and foreign countries respectively. Including enterprises from China, the United States, Turkey, Malaysia, France, the United Kingdom and other countries.

The Egyptian government said that this measure is not aimed at specific countries and enterprises, but that the certificates of these enterprises have expired and violated some regulations of the Egyptian Ministry of trade and industry.

In general, the recently issued regulations related to foreign trade are good and bad for freight forwarders, which is a situation of both opportunities and challenges.

GLA Family hereby reminds employees in foreign trade related industries (such as freight forwarders) to always pay attention to relevant local policies to avoid unnecessary losses.

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