How to deal with Rules of Origin explained at next export group meeting
The programme of the next export group meeting has been altered and I’m massively pleased to tell you that we will have Rhys Isaac, who proved such a star at the last Political and Economic Forecast meeting, to brief you on Rules of Origin.
For those of you not already grappling with them, Rules of Origin have been described as ‘One of the more pernicious barriers to trade in today's world’. They are the criteria used to determine the economic, as opposed to the geographic, nationality of a product and will be important when the UK leaves the EU – however it does so – because import duties (i.e. tariffs) and restrictions will be applied at differing levels depending on the nationality of the product. They will affect those importing from and exporting to the EU, and all those territories currently covered by FTAs with the EU post Brexit.
An example of their potential effect was recently given by Mike Hawes, Chief Executive of the Society of Motor Manufacturers and Traders, who noted that the average UK manufactured car is made up of 44% of components purchased from UK suppliers. But the proportion actually made in the UK “is somewhere between 20% and 25%”, which is a long way from the 55–60% threshold needed to qualify for any FTA.
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The agenda is as follows:
- 2pm Welcome
- 2.05 Introduction to GAMBICA’s help for exporters – Kirsty Roberts
- 2.15 DIT services for exporters – Josh Lawrence
- 2.45 Rules of Origin – the newest game in town – Rhys Isaacs
- 3.15. Exhibitions available to GAMBICA members and feedback so far and new Turkish customs rules;
- – Jacqueline Balian
- 3.25. Tips for maximum ROI from your exhibition investment – Richard Kent
- 3.35 Round table on export activity and topics for future meetings - all
- 4.30 Drinks – hopefully in the sunshine