The government of Canada issued the following trade-related notices as of Jan. 4 (some may also be given separate headlines):
Singapore announced Dec. 31 revised procedures for canceling certificates of origin and preferential COs issued by the country’s customs authority. “Do note that only unutilised CO/PCOs can be cancelled,” it said. The change, which takes effect Jan. 11, requires cancellation requests to be submitted online. Singapore said the canceled hard copy of the CO does not need to be returned to customs.
The Office of Foreign Assets Control accepted a settlement from a French bank of than $8.5 million for apparent violations U.S. sanctions against Syria, OFAC said in a Jan. 4 notice. Union de Banques Arabes et Françaises (UBAF) operated U.S. dollar accounts for Syrian financial institutions and “indirectly conducted USD business” for those accounts on behalf of the institutions through the U.S. financial system, OFAC said. UBAF agreed to remit $8,572,500 to settle its potential civil liability for 127 “apparent violations.”
The government of Canada issued the following trade-related notices as of Dec. 30 (some may also be given separate headlines):
China announced revised standards of origin for some commodities for trade with Macau, it said Dec. 24, according to an unofficial translation. The changes take effect Jan. 1.
The Office of Foreign Assets Control fined a Saudi bank more than $650,000 for violating U.S. sanctions against Sudan and Syria, a Dec. 28 notice said. OFAC said Saudi Arabia-based National Commercial Bank (NCB) illegally processed 13 transactions worth nearly $6 million.
Although the European Union and the United Kingdom reached a last-minute trade deal Dec. 24 to avoid a hard Brexit, the agreement will not necessarily translate into a smooth U.K. exit, law firms said, and companies still should prepare for a host of trade issues come Jan. 1. “Important changes and some logistical disruption will remain inevitable,” White & Case said in a Dec. 28 alert.
The United Kingdom and Canada agreed to transitional measures to maintain the flow of goods after the U.K. leaves the European Union Jan. 1, the U.K. said Dec. 22. The two countries signed a memorandum of understanding that will maintain tariff-free trade for companies exporting goods that are eligible for preferential treatment under the UK-Canada Trade Continuity Agreement (TCA), which is expected to take effect early in 2021, the U.K. said. The MOU will also maintain tariff rate quotas and rules of origin for products covered under the TCA.
The government of Canada issued the following trade-related notices as of Dec. 23 (some may also be given separate headlines):
Mexico recently proposed revising its organic import procedures for special certification, including changes to certain regulations, inspection methods and other import processes, the U.S. Department of Agriculture Foreign Agricultural Service reported Dec. 21. The FAS report said “Mexico has not yet notified the World Trade Organization Committee on Sanitary and Phytosanitary Measures of these changes. Notably, agricultural imports into Mexico requiring certificates of origin, such as organics, would be affected.” Industry can submit comments to the National Commission for Regulatory Improvement through Dec. 28.