VCN- The World Customs Organization (WCO) has announced the amendments of the Harmonized Commodity Description and Coding System (HS). The new edition of HS nomenclature includes 233 criteria mainly on the agriculture, chemistry, wood, textiles, metals, machinery and others.
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Specifically, environment and society are the main targets of the HS nomenclature 2017 edition. Most amendments of this edition were recommended by the Food and Agriculture of the United Nations (FAO).
With an important role of HS nomenclature in the gathering of trade statistics, HS 2017 has enhanced the scope of management for commodities such as fish, fish products, crustaceans, molluscs and other invertebrates to ensure food security and better resources management.
The Forest products catalogue is reinforced with new coding including endangered species and especially the separation of non-tropical timber and tropical timber. HS nomenclature 2017 also includes the creation of new groups for supervision and control of a number of bamboo and rattan products, as required by the International Network for Bamboo and Rattan (INBAR).
The HS nomenclature 2017 edition aims to provide information for a variety of new products to be used such as anti-malarial drugs, while also introducing new subgroups of chemicals under the Chemical Weapons Convention (CWC), toxic chemicals under the Rotterdam Convention and some persistent organic pollutants (POPs) under the Stockholm Convention.
Groups 69.07 (unglazed ceramics) and 69.08 (glazed ceramics) will be merged into one group instead of distinguishing unglazed products and glazed products. In addition, new products with a high trade volume will be classified under subheading 6907.90 and 6908.90.
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In order to prepare for the release on January 1, 2017, the WCO Secretariat is finalizing the necessary correlation table between the old and new versions of HS, updating publications on the HS notes and databases. Also, to ensure the implementation of HS 2017 in a timely fashion, member countries are also encouraged to apply HS 2017 in Import and Export Tariff of each country.
By Thuy Anh/ Hoang Anh