European Commission launches Access2Markets portal to support foreign trade by small businesses beyond the EU borders (https://cutt.ly/CgghWgZ).
The new portal responds to requests from stakeholders to better explain trade agreements and help companies ensure their products are eligible for duty discounts. It will serve both companies that already trade internationally and those that are only starting to explore opportunities in foreign markets.
The European Union has a large network of trade agreements with over 70 countries and regions and is currently negotiating a raft of new deals. Access2Markets breaks this complex set of rules down into practical information so that smaller firms can have access to relevant information more easily. Concretely, Access2Markets delivers the trading conditions to import goods to the EU and to export goods to over 120 foreign markets.
The portal allows companies to look up the following details for imported and exported goods, in just a few clicks: tariffs, taxes, rules of origin, product requirements, customs procedures, trade barriers, trade flow statistics.
The new Access2Markets portal also includes explanations, tutorials and FAQs to help new as well as experienced traders analyze the benefits of trade with each of the EU’s trading partners. It provides an overview of EU laws on products and services, as well as contact details for customs and other public authorities in EU Member States and in the EU’s trading partners. Businesses can also use the portal to contact DG TRADE to report trade barriers they encounter.
Access2Markets’ self-assessment tool, ROSA, provides special assistance on the rules that define the ‘economic nationality’ of a product, known as ‘rules of origin’. These are tailor-made in every trade deal, making sure that sensitive market sectors are protected and that companies can claim reduced or eliminated customs duties as set in the agreement. Companies can also find information on how trade agreements regulate trade in services or on the conditions to invest, or take part in public calls for tenders in a foreign market.
Every product traded internationally has a code that determines what import duties and national or local taxes need to be paid. On Access2Markets, businesses can find not only the code but also what duties they need to pay in each jurisdiction. The portal’s My Trade Assistant tool enables businesses to look up information on duties, taxes, product rules and requirements on a product-by-product basis for each market.
The portal is optimised for use on smartphones and tablets. It includes a host of additional user-friendly functions to help businessmen get the most out of the EU’s trade agreements. It is completely free of charge.