Commercial Information Circulars
24-hour hotline : 23 922 922
e-mail address : enquiry@tid.gov.hk
Ref : EIC 401/1/3
7 August 2012
Dear Sirs,
Commercial Information Circular No. 622/2012
MERCOSUR (Argentina, Brazil, Paraguay and Uruguay) : Tariff Increase on Imported Products
The trade was informed via Commercial Information Circular (CIC) No. 44/2012 of 16 January 2012 that the Southern Common Market (MERCOSUR) issued a Decision No. 39/2011 which authorised its four member states (including Argentina, Brazil, Paraguay and Uruguay) to temporarily increase tariffs on a list of imported products which shall limit to not more than 100 MERCOSUR Common Classification (NCM) codes. The MERCOSUR issued a Decision No. 25/2012 in June 2012 to repeal Decision No. 39/2011 and expand the list of products subject to the tariff increase that each member state may draw up to not more than 200 NCM codes until the end of 2014.
2. The increased tariff, not exceeding the bound rate allowed under the World Trade Organization, will be applied for a period of twelve months and subject to renewal for up to twelve months.
3. For details of the Decision, traders are advised to consult their importers in MERCOSUR member countries and/or the relevant MERCOSUR Decision (in Spanish or Portuguese), which is available at: http://www.mercosur.int/innovaportal/v/4392/1/secretaria/2012.
ENQUIRIES
4. For enquiries about the content of this circular, please contact Miss S Y TANG at telephone number 2398 5405.
Yours faithfully,
(Ms Cindy CHENG)
for Director-General of Trade and Industry
| Note : | While every effort is made to ensure the accuracy of the above information, the Department cannot guarantee this to be so and will not be held liable for any reliance placed on the same. |